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Lake Benton to repurchase two Mork & Giles lots for $5,500 after buyers decline to build
Summary
The city approved buying back Lots Three and Four of Block Three in the Mork & Giles Addition for $5,500 after the buyers informed the council they will not build; the lots will be listed with Lake Benton Realty after the warranty deed is recorded.
The Lake Benton City Council voted May 4 to exercise a buyback option on two vacant lots after the buyers informed the city they will not build. The council approved purchasing Lots Three and Four of Block Three (Mork & Giles Addition) from Loren, Kimberly and Nathan Konda for $5,500; the amount reflects 50% of the original sale price as specified in the purchase agreement.
Trustee Jon Olson moved to approve the repurchase and Trustee Scott Christensen seconded; the motion carried. After the warranty deed is signed and recorded, the council also approved hiring Lake Benton Realty to list the two lots for sale.
Background and context: The Konda family had a two‑year period to build from October 19, 2023 and had been granted a one‑year extension to complete construction no later than September 1, 2026. In a letter to the council the buyers stated they will not be building; the purchase agreement gives the city the option to reacquire title at 50% of the sale price.
Next steps: City staff will complete the warranty deed and record it; the lots will be listed with Lake Benton Realty as authorized by the council. The council did not identify a proposed reuse or timeline for redevelopment during the May 4 meeting.
