The downtown Corporate Center II building is one step closer to landing in private hands. Last night (Monday) the Grand Forks Growth Fund authorized a public auction process for the city-owned building.
Under the plan the city would accept public bids for the property at 402 DeMers Avenue. Recent appraisals put the value of Corporate II at around $3 million dollars.
City Attorney Dan Gaustad says the Jobs Development Authority has options under the bid process. “Most government entities reserve the right to reject any and all bids.”
The council – meeting as the Jobs Development Authority – will review the recommendation next week.
The public sale does not include the Corporate Center I building at this time.
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