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Hibbing authorizes sale of 1100 East 25th Street to Ingenuity Builders for $110,400
Summary
Following closed sessions, the council voted to authorize the mayor and clerk to execute a purchase agreement selling city property at 1100 East 25th Street to Ingenuity Builders LLC at the assessed value of $110,400; staff cited potential demolition costs of the Stuntz building as part of the rationale.
After two closed sessions on real property, the Hibbing City Council returned to open session on July 15 and authorized a commercial purchase agreement for city-owned property at 1100 East 25th Street.
City staff reported that Ingenuity Builders LLC executed the draft purchase agreement without modification and asked the council to authorize the mayor and clerk to execute the agreement. Andy Borland said the purchase price is $110,400, which "represents the assessed value of the land," and noted the council had discussed the substantial cost to demolish the Stuntz building if the city retained it. Borland said the executed agreement and buyer acceptance were before the council for consideration.
Councilor Faso moved to authorize execution of the agreement and Councilor Bayless supported the motion; the board approved the authorization by voice vote.
Why it matters: the sale moves a city parcel into private ownership at assessed value and eliminates the city's potential near-term demolition liability for the building on the site. The action follows closed-session discussion permitted for real-estate bargaining.
Next steps: staff will proceed with executing the purchase agreement and closing processes subject to the contract terms.
