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Shakopee Economic Development Authority
October 4, 2022
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| | | | | | | | | FROM: | Michael Kerski, Planning/Development Director | | TO: | President and Board Members |
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| | | | | | | | Subject:
Sale of EDA-owned property for the development of the amphitheater. |
| | | | | | | | Policy/Action Requested:
Open public hearing, take testimony, close public hearing, motion to approve Resolution E2022-010, Approving Execution of a Purchase Agreement with Bloomington Investments, LLC and its Assigns. |
| | | | | | | | Recommendation:
Approve Resolution E2022-010 |
| | | | | | | | Discussion:
Following EDA procedures for the disposition of property, the sale was advertised in advance of the required public hearing.
As part of the amended Canterbury TIF plan and budget, it was anticipated that these parcels would be sold to assist in the construction of the amphitheater. The amphitheater has now received all of its zoning approvals and we anticipate that they will close on the necessary land purchases from Canterbury and then will close with the EDA on its properties. The developer also has the crane parcel under contract. The developer plans on starting construction later this year and well into 2023 with an opening in 2024. |
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