City of Dundas Economic Development Authority Agenda Packet 2026-04-27
EDA considers land sale to Rebound Partners
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Description
The Dundas Economic Development Authority is considering a Purchase and Sale Agreement to sell 315 Railway Street North to Rebound Partners LLC for $10,000 to support construction of a multifamily apartment project. The buyer will bear closing costs and taxes, and the agreement includes a 24‑month conditional repurchase option for the City if the intended use does not proceed.
Contract Details
Contract Amount
$10,000.00
Vendor
REBOUND PARTNERS LLC
Agency
City of Dundas, MN
Contract Type
FACILITIES
Document Date
April 27, 2026
Contract Term
Closing to occur on a mutually agreed date not later than an unspecified date in 2026; Seller reserves a conditional option to repurchase for 24 months after the Closing Date
Renewal Info
Seller retains a conditional option to repurchase the property for 24 months after the Closing Date, which vests only if the buyer fails to devote the property to the intended multifamily residential use within one year of closing.
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