Sale of 140.9 acres in Falcon Heights, MN (University of Minnesota Golf Course)

The University of Minnesota is requesting proposals for the purchase of the University Golf Course, located in Falcon Heights, MN. The property consists of approximately 140.9 acres and is currently used as an 18-hole golf course and driving range. The University is working with the City of Falcon Heights to ensure that the selected respondent will develop the property in a manner consistent with the City’s vision for the site while maximizing a per acre price for the University. • The property is being sold "as is" with no warranties made or implied by the University. • The selected respondent will be responsible for all future property taxes and special assessments as of the date of close. • The University is requesting three different financial scenarios for the property, including a purchase price based on the respondent's proposed highest and best use for the full 140.9 acres, a purchase price based on the respondent's proposed highest and best use for the property without the driving range, and a purchase price based on the land uses and densities articulated in the "Extrapolated Land Use Block Plan based on the City of Falcon Heights 2024 Snelling & Larpenteur Corridor Development Study". • The University will evaluate proposals based on the following criteria: financial proposal to purchase property (35%), planned strategy to develop property (25%), demonstrated experience and capacity to complete the development (25%), and proposed terms and conditions of sale (15%).