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Cottage Grove EDA gets development updates; hotel offer pending, 164-unit Yellow Tree project seeks abatement
Summary
The Cottage Grove Economic Development Authority received multiple development updates on April 8, 2025, including a staff offer on a prospective hotel site, a 164-unit Yellow Tree multifamily proposal requesting a 10-year tax abatement (capped at $848,800), and confirmation that a TIF-funded senior housing project filed its annual certificate of compliance.
The Cottage Grove Economic Development Authority received multiple development updates on April 8, 2025, including a staff offer on a prospective hotel site, a 164-unit Yellow Tree market-rate multifamily proposal that has requested a 10-year tax abatement capped at $848,800, and confirmation that a TIF-funded senior housing project filed its annual certificate of compliance.
President Bailey (Mayor Bailey) briefed the EDA on a hotel property for which staff made an offer after an executive session; the city will meet again with the property owner on Monday. City staff said the HVS/HB Sherut (HBS) hotel study completed in December 2022 recommended a 90-room branded hotel as the most likely viable product and identified preferred locations near 80th Street and the 73-acre site adjacent to Walmart.
Yellow Tree multifamily project Staff reported that Yellow Tree…
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