CLOSING DATE SET FOR SALE OF GOLDEN TERRACE

A closing date for the sale of the Garden Terrace Apartments from the New Ulm Economic Development Authority to Rebound Partners has been set for March 31.  An agreement is in place for the development of vacant lot on the property.  Rebound Partners expressed an interest in developing additional housing on the vacant lot.   EDA Director Heather Bregel told the board that Rebound Partner and Oak Hills Living Center have agreed to a preliminary design for a senior housing project for 30 to 40 one and two-bedroom units.