As of Friday at 10am, Rainbow Estates acquired new owner and is back on the tax roles. Dan Vondrachek is a respected businessman in North Dakota, but he spent a great deal of his childhood in Glendive, Montana where he lived from the third through ninth grades. In the ninth grade, his father who worked for Glendive Glass and paint found work in North Dakota in 1962 and moved his family away from where Vondrachek says were the best years of his life. Vondrachek has visited frequently over the years and stayed in close contact with his childhood friends. When he learned about the predicament Dawson County was in with Rainbow Estates – more than $100,000 in back taxes over a ten year period, a large chunk of which was pass-through owed to Buffalo Rapids, he wanted to help. Friday, November 18, 2011, according to Vondrachek, the deal closed.
This is the second significant action taken regarding the property this year. In the spring the Dawson County Commisioners accepted and cashed earnest money on the property. Neither event was entered into public record. Vondrachek participated in a series of meetings with a quorum of commissioners over the property negotiating price and terms. The property has a troubled history and previous proposals generated significant public interest. Commissioners have entered the existence of correspondence regarding the deal into some minutes but refused to make those documents public. There was no reference to the Rainbow Estates Deal at the most recent ,Dawson County Commissioner session on November 15, 2011, three days prior to the announcement by Vondrachek.
This is not the first such development Vondrachek has established in the region. In the 1970’s he purchased Rolling Meadows subdivision in Bismarck. Rolling Meadows is a 160 acre, 57 lot development. Through booms and busts it has had its challenges, but eventually Vondrachek was able to see the project through to the end. He has also invested in properties in multiple states and is co-owner of Fireside Office Solutions in Bismarck. Regarding his newest investment, the final price was not disclosed. It will be publicly available once the state puts the information on line. However he did say that he paid over $15,000 per platted acre and it was more than sufficient to cover the decade of taxes owed and put the land back on the tax rolls immediately. He proposes about 70 lots for development.
Previous developers interested in the Rainbow Estates properties included Michael Blend and Jim Sapington of BREM Holdings. Following a number of interchanges, those developers determined the property was not fiscally feasible because of the cost of engineering,surveying and infrastructure. Vondrachek has resolved those issues with the county and surrounding property owners in a deal he says will not significantly raise water access rates for state-mandated well testing.
Vondrachek assures the community that there will not be a man-camp placed on the property. He said his goal is to see the property become a viable residential neighborhood that he and his family may want to live in. He next will reach out to developers to purchase portions for development through Richard Crouch at Montana East Realty. Interested developers can also reach Vondrachek directly at firstname.lastname@example.org.
Vondrachek said “My goal is to do what’s right, not only for myself but for the community and for those who are living out here. I want a development that I would have no problem living in myself. No man-camps.”