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Port authority approves proceeding with Otter Tail Power lease option; racetrack LOI still pending
Summary
Fergus Falls Port Authority approved proceeding with Otter Tail Power on a lease option after city attorney review; the port noted a pending letter of intent from the nearby racetrack and the need to meet an April MISO application deadline.
The Fergus Falls Port Authority voted to approve proceeding with Otter Tail Power on a lease option for port-managed land, the authority announced during the meeting.
Port staff said Otter Tail had submitted a lease option after earlier proposing a purchase option. The city attorney reviewed the proposed agreement and indicated it "looked good," staff said. Staff and board members told the authority that Otter Tail asked for a decision at the meeting because the MISO application window is closing in April, and the utility needs to confirm its submittal.
Board members noted the port is still awaiting a letter of intent from the nearby racetrack. Staff said the racetrack has been amenable to preserving acreage needed to maintain operations while allowing Otter Tail access, though price and final acreage remained under discussion. A board member reported the racetrack and Otter Tail were still negotiating price but appeared to be moving toward agreement.
A motion to approve Otter Tail proceeding with a lease option was made, seconded and carried. The port did not adopt a final lease or sale at the meeting; staff was authorized to proceed and to return with any required documents once terms and the racetrack’s LOI are finalized.
The port closed the item and moved to other business.
