EDA approves 6-month lease option at Garden Terrace
NEW ULM – The Economic Development Authority approved the option of a six-month lease for Garden Terrace apartments at its Tuesday meeting.
The EDA expressed concern for keeping Garden Terrace fully leased. Currently there are five vacant apartments despite a 55-person waiting list. The apartment complex has historically had a low vacancy rate at less than one percent. However, during the past 12 months the vacancy rate has been three percent.
EDA member Charles Schmitz questioned why the vacancies when there is an extensive waiting list.
EDA Coordinator Heather Bregel explained that many on the list are holding out for a two-bedroom, corner apartment, or are not ready to move when a vacancy occurs.
A suggested option included rotation of the waiting list by moving refusals to the end of the list.
Other options included allowing tenants to sign a six-month lease. Tenants choosing the six-month lease would pay the regular rental amount for the unit with an additional $100 a month charge. After six months the lease renews automatically every month and renters must give a 30-day notice when they intend to vacate. Tenants would still have the one-year lease option. Bregel said both lease options would be available for those on the waiting list.
The EDA chose the six-month lease option.
The EDA awarded Full Service Electric the 2014 Public Housing Electrical Upgrade Project for $4,437.48. The plans include the replacement of lighting fixtures, smoke detectors, and installing tamper-resistant electrical outlets.
Most of the materials will be purchased and provided by the EDA with the exception of Arc-fault circuit breakers, that will be provided by the electricians for $76 each. Approximately 80 breakers will be needed, bringing the total cost between $10,000 and $15,000.
A recent inspection determined that two decks attached to Public Housing Family units were deteriorating and in need of repair or replacement. One deck needed immediate attention, but the EDA decided to look into replacing both at the same time. In addition, staff will look into the cost and longevity of using wood verses composite materials. EDA approved plans and specifications for the deck replacement project and set a bid opening date for Aug. 1. Estimated cost of the project is $5,000 per deck.
Sale price set
on spec homes
The sale price was set on two spec homes in the Milford Heights Addition. Both homes are substantially completed and required prices to allow realtors to begin the marketing process. The price of the home at 612 Pfaender Drive was set at $153,900 and the home at 632 Pfaender Drive was set at $154,500.
The Aug. 12 meeting was rescheduled for Aug. 19. The meeting was changed to avoid holding a meeting on Minnesota’s primary election date.