Buyer Found: Lakeville's Old Senior Center to be Sold For $345,000

Just days after the newly renovated Heritage Center opened, Lakeville has already found a buyer for its now empty Senior Center building.

The City Council is expected to approve a purchase agreement at its Oct. 1 meeting to sell the building for $345,000 to Rosemount-based Rose Mountain Spiritual Community Center. The building would be used as a church and fellowship hall, according to the city.

Last summer, the city said the sale of the senior center would net the city approximately $155,000. Though appraised at $345,000, the facility was originally financed with a Community Development Block Grant (CDBG) of $189,750 which would have to be repaid to the Dakota County CDA.

RMSCC will pay $200,000 at closing and finance the remaining $145,000, according to the city.

The Heritage Center cost roughly $1.09 million to renovate. While much of that was covered by the city's existing building funds, a $400,000 bridge loan was secured from the city's liquor fund to cover the difference. About $110,000 of that has already been raised to pay off that loan through donations and fundraising. The $155,000 that's coming from the sale of the old senior center leaves just $135,000 left to pay off through fundraising.

The sale of the building comes just days after the much anticipated opening of the Heritage Center, which serves as the new home of the Lakeville Senior Center, Historical Society, and Yellow Ribbon group.

Lakeville Patch will have more on the story.