University of Minnesota Finance & Operations Committee Agenda Packet February 2026
UMD Sells College St. Parcel to Minnesota Power for Transformer
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Description
The University of Minnesota authorized the sale of .234 acres at 507 W College St, Duluth, to Minnesota Power (Allete, Inc.) for $120,000, with closing scheduled for February 2026. The site will host a new transformer to benefit campus.
Contract Details
Contract Amount
$120,000 purchase price
Vendor
MINNESOTA POWER DBA ALLETE INC
Agency
University Of Minnesota-Rochester, MN
Contract Type
REAL_ESTATE
Document Date
February 12, 2026
Contract Term
Purchase and Sale Agreement executed November 18, 2025; closing scheduled for February 27, 2026; closing may be extended by up to two 90-day periods for buyer approvals
Renewal Date
2026-02-27
Renewal Info
Purchase agreement allows closing extension(s) for permitting up to 180 days beyond initial scheduled date.
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