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EDA previews buyback and resale of industrial outlot; board hears tax-abatement and proceeds details
Summary
EDA staff informed board members Feb. 4 about plans to repurchase a small outlot previously sold during the pandemic and to subdivide and resell it to new industrial tenants; staff said the transaction would return funds to the EDA real-estate fund after repurchasing the parcel from the current owner.
At the Feb. 4 Economic Development Authority meeting, staff briefed the board about a proposed repurchase and resale of an outlot adjacent to the recently developed Journey building.
Staff described the site as a contaminated outlot that the city sold earlier and that currently sits north of the Journey development. The current owner (identified in the presentation as a real-estate entity associated with the Journey developer) has no present use for the outlot and is willing…
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