The Burleigh County auction of a portion of fairground property isn't drawing the interest commissioners anticipated and the land will likely remain in Burleigh's possession.

Friday was the deadline for anyone interested in buying the property. In order to bid on the parcels up for auction at Monday's county commission meeting, potential bidders needed to meet with auditor-treasurer Kevin Glatt by Friday and prove they qualify for the sale.

As of Friday morning, Glatt had spoken to only two interested parties and only one had met the qualifications of providing a reference letter from a financial institution or other evidence of having the necessary 20 percent down payment for the property.

The successful bidder is required to pay 20 percent of the price at Monday's meeting and the balance within 30 days.

Glatt hadn't received any calls to schedule any more meetings before the deadline by the end of the business on Friday.

The person that is qualified for the auction is interested in one of the smaller plats, Glatt said.

The county commission had approved a minimum bid for all the property at its Jan. 7 meeting. If all the property were sold at the minimum price, the county would realize about $4.15 million. The commission is on record that any revenues from the land sale will be put into the development of the fairgrounds.

"Am I surprised? Yes and no," Glatt said. He pointed out that an auction held last summer by the North Dakota Land Department for school trust land just north of the fairgrounds also didn't generate much interest and none of the property was sold.

Interest in the Burleigh property shown by land buyer Ken Vellenga late last year spurred the commission to fast track the auction. Vellenga is not expected to be an auction participant.

Commissioner Doug Schonert, who is a real estate professional, said he was surprised by the lack of participation in the auction, but believes there is interest.

"I think there's a lot of interest, but I think those interested are waiting on the Northern Plains Commerce Centre. If something starts happening out there, we'll have a really hot property," Schonert said. "But that (NPCC) has been going slow and everyone is waiting for it to take off and really develop."

If none of the land is sold at the auction, Schonert doesn't have any problems having the county sit on the property for awhile.

"If we don't get the kind of bid we want, I'm not in favor of lowering any of the prices. We can wait," Schonert said.

The county has invested less than $7,500 having the property platted, according to Glatt. The land is undeveloped, though it has access to major transportation routes.

The Missouri Valley Complex had been managed by the Bismarck Parks and Recreation District until the end of 2007, when the district withdrew from any further connection with the property.

The land falls under the jurisdiction of the Missouri Valley Complex Authority, which represented interests of the city, county, Burleigh park district, Bismarck park district and the NDSU Extension office, which is a tenant. The Bismarck park district also withdrew from the authority, which has not met in several months.

(Reach reporter Gordon Weixel at 250-8255 or gordon.weixel@bismarcktribune.com.)