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Shakopee Economic Development Authority
October 15, 2019
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| | | | | | | | | FROM: | Michael Kerski, Director of Planning & Development | | TO: | President and Board Members |
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| | | | | | | | Subject:
Purchase Agreement for EDA-owned property to MWF Properties or its assigns. |
| | | | | | | | Policy/Action Requested:
Approve Resolution No. E2019-019 authorizing the appropriate individuals to execute a Purchase Agreement with MWF Properties, LLC for $500,000 for property identified as Vierling Drive West and Taylor Street in Shakopee, Minnesota with a parcel identification number of 274730030 |
| | | | | | | | Recommendation:
Approve Resolution No. E2019-019 |
| | | | | | | | Discussion:
The EDA has previously approved a Memorandum of Understand to allow MWF to purchase this property for $500,000. This final agreement requires a public hearing which was duly noticed and advertised.
MWF's intent is to develop approximately 102 units of workforce housing on this site in a similar site plan and building to Sarazin Flats, which is located adjacent to Target. The EDA site would be developed in two phases. |
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