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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 voted to adopt the resolution.
City staff described the North Industrial Park Subdivision No. 3—approved in 2024—as the planning context for the parcel. The buyer intends to develop the site with multiple 30-by-50 storage/office buildings on both the south and north sides of the parcel, connected to sewer, water and electric. Staff said the project is intended to serve as a small-business incubator and to provide storage and office space for contractors and similar local firms.
Staff estimated that once the full project is completed it could generate roughly $10,000 to $20,000 annually in property taxes and would produce ongoing utility fee revenue for sewer, water and electric. The packet includes a site exhibit and the purchase agreement and design requirements, which reference paved driveways and parking, interior concrete floors for the buildings, wainscoting and trees and screening for buildings nearest Klein Street.
Council members expressed support for the incubator concept as a way to help small local businesses that need vehicle and equipment storage. No public opposition was recorded in the transcript.
The resolution appears on pages 107–108 of the council packet; the council approved the motion by roll call (ayes: Council member Wiesenfeld; Council member Scharstrom; Council member de Vos; Mayor Noel; Council member Johnson; Council member Perez; Council member Ram).
