By Sara Strong
Luverne’s city-owned apartments are now in private hands.
The Luverne Economic Development Authority Tuesday approved the sale to Steve Perkins, chief manager of the newly-formed Luverne Townhome Rental Properties, LLC.
Perkins will purchase the apartments, which are more accurately described as townhomes, with other family members.
As the only bidder, Perkins offered $1.45 million for the 29 units in Mounds View and Evergreen Apartments.
"We feel the offer is generous, and it’s a good cause because it puts the property back on the tax rolls," Perkins said.
He said he sees the apartments as a long-term investment and doesn’t plan on making changes in the operation of the units, nor in the rent prices.
Perkins requested the sale be finalized by the end of the month, so renters will pay March’s rent to Perkin’s group.
Before the LEDA could sell the units, it had to have a public hearing. Current residents wondered about logistical aspects of the sales, like who will refund security deposits and where they’ll send their rent checks.
Those specifics are all worked out in the sale contract and renters will get a letter outlining what they’ll need to know.
Perkins said he wouldn’t raise rent on current tenants for at least a year and said the maintenance workers and system would stay in place.
If anything, he said, the apartments will see an increase of upgrades and improvements.
The LEDA voted unanimously to approve the sale.
