Blue Earth County Board of Commissioners Agenda Packet May 2026
EDA approves RAD property management deal with City
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Description
The Blue Earth County EDA approved a property management agreement with the City of Mankato for its RAD/Section 18 housing portfolio, including Orness Plaza and scattered-site units. BECEDA will manage operations for an initial five-year term, earning a 6% management fee funded from project revenues.
Contract Details
Contract Amount
Management fee equal to 6% of gross project receipts
Vendor
CITY OF MANKATO
Agency
Blue Earth County, MN
Contract Type
FACILITIES
Document Date
May 12, 2026
Contract Term
Initial five-year term with automatic renewals unless terminated
Renewal Date
2031-05-12
Renewal Info
Agreement runs for an initial five years from May 12, 2026, with automatic five-year renewals unless either party provides at least 60 days’ written notice; may also be terminated earlier under specified conditions.
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