The council went into closed session to discuss the sale of Marktplatz Mall. The city has been in discussion with representatives of EBMD, LLC, a Minnesota limited liability company interested in acquiring two parcels of real estate that included the Marktplatz Mall. The property involved has been forfeited for nonpayment of taxes, and Brown County has agreed to a sale price. The developer’s plan for the mall property would be to provide additional housing and retail activity for New Ulm. The portions of the mall involved in the transaction are deteriorating and the value of the property is decreasing. No other parties are interested in the property.Marktplatz Mall was sold to EBMD, LLC. The closing date was set for April 30.

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