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The Albert Lea City Council on Monday approved seeking requests for proposals for 13 city-owned properties, including the Freeborn National Bank and the neighboring Jacobson apartments buildings downtown.

The request for the bank and Jacobson buildings states the vision for the property’s development is mixed use with housing on the upper floors and commercial businesses on the ground level.

The city is not setting a minimum purchase price for the downtown properties and will determine the award of the proposal based on the quality and improvements it brings to the community, the proposal states.

The city has sought to develop the buildings, on the corner of South Broadway and William Street, numerous times over the years and has considered plans for a luxury hotel and apartments, along with various uses for the main levels of both.

The Freeborn National Bank building was originally constructed as a bank in 1922 on the first floor and medical and professional offices in the upper floors. The building’s upper two floors were added in 1923.          

The action comes as the owners of Mortarr seek to sell the lower floors of the bank building.

The request for proposals states the developer must be willing to wait to close on the Jacobson building, at 211 S. Broadway, until after the city has completed the facade improvements.

It also intends to have a “buy-back” clause for the purchase price in the event the terms of the agreement are not met.

Other properties the city is seeking developers for are the following:

• The lot and structure at 728 S. Newton Ave. The city acquired the property in tax forfeiture and had originally hoped to make some structural repairs and return it to the private market. The city no longer expects it to be economically viable to save the building and is now looking for a developer to remove the building in 12 months and put in a residential property in 24 months.

The asking price is $1 with an assessment of $8,000 for prior asbestos removal in the basement and removal of a collapsing garage.

The city may raze the structure if the developer fails to meet the 12-month timeline with a 60-day notice and assess the costs to the property.    

• Three lots at 1207, 1209 and 1211 S. Newton Ave. The city’s vision for the properties is housing.

The city has not set a minimum purchase price.

• Property at 604 Giles, which was the site of a former fire.

The request for proposals states the house would be a great starter home for a DIY person or potential investment property. The interior needs updates and finishes due to previous fire damage, along with reframing and re-sheeting of the fire area in the kitchen.

The structure has been cleaned and sheetrock removed.

The minimum asking price is $18,000 plus another about $9,819 for delinquent taxes and assessments.

The project must be complete in 12 months.

• Six empty lots along Seventh Avenue and Fountain Street, which the city hopes will be developed into housing. A minimum purchase price has not been set and the city will determine the award based on the quality of the proposal and the improvement it brings to the neighborhood.