W’bago council votes to sell duplex rental units
The Winnebago City Council voted to auction off two city-owned duplexes Nov. 8.
Council members set the minimum bid for the duplexes at $190,530 with a final offer subject to council approval.
City Administrator Austin Bleess says there will be a handful of interested buyers.
“Advertising will be done on a broader scale to places like Fairmont and Mankato,” Bleess says. “We will be able to get some very serious bidders.”
The Minnesota Housing Finance Agency (MNHFA) gave the city approval to sell the duplexes which have been owned by Winnebago for 15 years.
The amount left on the mortgage for the properties is $170,630 and the duplexes owe the city’s general fund $10,900. Adding those two sums together, the council came up with the minimum bid of $190,530.
At the moment, two of the units in the duplexes are occupied. To see more of this story, see this week’s Register.