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EDA approves $5,000 discount to move forward on Vonage lot sale
Summary
To resolve a long-running transaction and return a property to the tax rolls, the EDA approved reducing the sale price of a Vonage lot by $5,000 and instructed legal staff to prepare the paperwork to close the sale.
The East Grand Forks Economic Development Authority voted Feb. 26 to reduce the sale price of a city-owned lot formerly tied to Vonage by $5,000 to facilitate a purchase and close a protracted transaction.
Board members said the parcel has been tied up with lien releases and other delays, and some members favored a price cut to encourage sale, return the lot to the tax rolls and avoid further legal and administrative costs. Legal counsel confirmed the U.S.…
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