Lease Lot Procedures

 

These procedures have been developed to ensure a fair and timely process for issuing new lakeshore lease lots. New lots will be publicly offered for lease from time-to-time throughout the year. Questions? Please call our ShoreLand Traditions Office at (218)723-3981, or toll free at 1-888-526-3648.

A lease which runs to February 1, 2036 will be awarded to successful individuals. The annual rental fee for a lease lot is equal to the taxes assessed against the lot by the county plus 2.5% of the lot value, as determined by Minnesota Power, subject to revaluation during the term of the lease. No Rent Payment is required in the current year.

Leases will be awarded on an individual basis through a public offering process. Applicants will submit an offer to lease any of the lots that are available at the time. This offer is a one-time cash payment due upon issuance of the lease. This payment is in addition to the annual lease fee.

How to Make an Offer to Lease

  1. Visit each lot at your convenience. The fact sheets for each lot provide directions to the lots. Metal signs identify the lots.
     
  2. Review the general lot data on each fact sheet. A public offering disclosure statement that has more detailed information about the area in which each lot is located is available for your review online or in our office.
     
  3. Call our office at the above phone numbers, or check our Internet Web site (www.mpland.com) to confirm if the lot(s) you are interested in is (are) still available for lease.
     
  4. You may make a written, fax or e-mail offer to lease any lots that interest you. Submit your offer by the following means:

    Phone:
    		 (218) 723-3981 or 1-888-526-3648
    FAX:
    		(218) 355-3827
    E-mail:
    		landinfo@mpland.com
    US Mail: Minnesota Power ShoreLand Traditions
    30 West Superior St
    Duluth, MN 55802

     
  5. Minnesota Power will respond to your offer as soon as possible. Your offer may be accepted, rejected, or countered with further negotiation regarding price and terms.
     
  6. Once an offer to lease has been accepted by Minnesota Power, you’ll be required to review the public offering statement for your lot and then execute a written Lease Offer Contract, accompanied by a payment of $1,000 for earnest money. The closing date for issuance of the Minnesota Power Lease Agreement will be determined prior to executing the Lease Offer Contract. At the closing date, you will sign the Minnesota Power Lease Agreement and related documents and make any additional payments required. Annual lease rental payments are billed in two equal installments on January 15 and August 15, which are due February 15 and September 15, respectively. Annual tax bills are due April 15 and October 15. No Rent Payment is Required in the current year.

 

Phone:
 (218) 723-3981 or 1-888-526-3648
FAX:
(218) 355-3827
E-mail:
landinfo@mpland.com
US Mail: Minnesota Power ShoreLand Traditions
30 West Superior St
Duluth, MN 55802