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City Council adopts ordinance to sell industrial-park parcel to ABS Properties LLC
Summary
The Little Falls City Council voted to adopt Ordinance No. 57 approving the sale of a parcel adjacent to ABS Supply to ABS Properties LLC under the city's industrial-park pricing policy; council asked staff to confirm where proceeds will be allocated and indicated they will report back.
The Little Falls City Council on June 2 adopted Ordinance No. 57 to authorize the sale of a parcel adjacent to ABS Supply to ABS Properties LLC for the industrial park expansion.
Alex, a city staff member, told the council the buyer intends to add warehouse and office space. He said the city uses a pricing standard of $22,000 per acre for industrial-park sales, which in this case produces a sale amount in the “$30,000 some-odd dollars” range following that city policy. The sale was introduced on May 5 and adopted at Tuesday’s meeting.
The adoption matter drew questions about how the proceeds will be used. A council member asked where funds from the sale would be allocated; staff did not have an immediate written answer but said they would check and report back. Alex said, based on the city’s property ownership records, the parcel is currently held by Little Falls and the HRA and that the city “would suspect HRA funds were used to develop this area,” adding that city staff would confirm whether sale proceeds would return to HRA. Council members said if proceeds are not currently designated, the budget process would be an appropriate time to assign them.
The council called the roll for the ordinance and recorded affirmative votes. The council then recessed later in the meeting to a closed session under Minnesota Statute 13D.05, subdivision 3(c) to develop or consider offers or counter-offers for the sale of property identified as parcel number 48.18610.
Council members who moved and seconded the ordinance, and the recorded roll-call votes, are captured in the meeting record and adopted the ordinance for sale.
