EDA to consider lowering price of spec house, HONU sign

NEW ULM – The New Ulm Economic Development Authority will meet at 7:30 a.m. today in the Council Chambers at City Hall.

The EDA will consider reducing the spec house price for 612 Pfaender Drive in the Milford Height Subdivision from $150,400 to $149,900.

The house has been on the market since May 2012. Because the EDA has invested $143,400 in the house.

The EDA will also consider a request by the Heart of New Ulm to utilize the EDA lot at 4th North and Broadway to post a 4×8-foot sign for three months.

The lot is vacant and typically used as temporary parking for Broadway Haus tenants during snow removal activities.

HONU’s “Lose It to Win It” sign seeks to encourage people to enroll in its free weight loss challenge. The sign will fill in red squares on a chart of its goal toward getting 2,500 registered participants.

Also, the EDA will consider authorizing the construction of a speculative house in Lot 5, Block 5 of the Milford Heights First Addition and approving quotes for the associated work. Local realtors have told EDA that there is high demand for a rambler style home. A previous spec rambler at 609 Pfaender Drive sold very quickly. The price of the home will be set after construction.

Finally, the EDA will consider approving River Creek Nursery’s quote of $18,285 for landscaping work at Garden Terrace Apartments. The project was sought after being identified in a June 2012 needs survey. The project will improve the grounds for residents and improve the site’s property values.

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