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St. Peter council approves sale of 2130 Klein Street to Development Corp. for business-incubator project
Summary
The City of St. Peter approved a purchase agreement to sell city-owned land at 2130 Klein Street to the St. Peter Development Corporation for commercial office/storage buildings intended as a local business incubator; staff estimated future tax revenue and utility fees, and the resolution passed by roll call.
The St. Peter City Council on Jan. 13 adopted a resolution to enter a purchase agreement with the St. Peter Development Corporation for city-owned property at 2130 Klein Street.
The sale, approved by roll call, sets a purchase price of $1.37 per square foot; the packet describes that amount as $1.00 per square foot for the land and $0.37 per square foot to cover current and future stormwater and other improvements. Staff recommended approval and the council…
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