A U.S. bankruptcy court judge approved Jan. 28 the Archdiocese of St. Paul and Minneapolis’ plan to enter into time-fixed bidding process for one of its properties after receiving an initial bid from a Minneapolis developer for $2.75 million.

Additional bids will be received through 3 p.m. March 18 for the chancery and archbishop’s residence, 226 and 230 Summit Ave., St. Paul, across from the Cathedral of St. Paul. The proposed sale includes restrictions on the height of new construction and how the property may be used.

Judge Robert Kressel also approved the archdiocese’s implementation of child protection measures central to a December settlement of civil charges the Ramsey County Attorney’s Office filed against the archdiocese in June. Because there will likely be additional expenses to implement the settlement agreement, it required court approval.

“The significant social benefits far outweigh financial costs,” Kressel said during a hearing at the Minneapolis U.S. Courthouse.

The archdiocese entered into Reorganization under Chapter 11 of the U.S. Bankruptcy Code in January 2015.