Description
The Rexburg Urban Renewal Agency is selling a 0.5‑acre parcel that includes a historic 1937 seminary building. The buyer must purchase the land for at least $625,000 and fully rehabilitate the existing structure (no demolition) so it complies with current development codes and becomes operational within five years. All necessary planning, zoning, building, and city‑council approvals are the purchaser’s responsibility, and the agency retains a buy‑back right if the rehabilitation deadline is missed. The project is situated in a high‑density mixed‑use zone near BYU‑Idaho, making it attractive for mixed‑use or community‑focused development.
• Minimum purchase price $625,000; rehabilitation costs expected to exceed 50 % of total valuation.
• Must obtain all permits, meet Rexburg’s Form‑Based Code (Main Street & City Center transects), and have the building in use within five years.
• No pre‑bid meeting or site visit required; proposals limited to 10 pages plus attachments, submitted in hard‑copy and digital form.