2 Rivers council approves 4-year extension for Hawk Energy option, adds $150,000 minimum annual payment

The 2 Rivers City Council on Jan. 20 approved a first amendment to a real estate purchase option with Hawk Energy Storage LLC, extending the developer's option to purchase a roughly 9.4-acre parcel in the Woodland Industrial Park and adding a $150,000 minimum annual payment tied to property tax or payments-in-lieu-of-taxes.

The amendment, approved unanimously on a roll-call vote, also raises the annual option fee paid by Hawk from $47,000 to $55,000 in the first year of the extension, with increases of $1,500 in each following year up to the extended expiration in July 2028. The agreement retains the city's long-standing per-acre purchase price of $11,000 for land in the industrial park.

Council and staff framed the extension as a pause while the project awaits a shifting regional transmission plan led by the Midcontinent Independent System Operator (MISO). City Manager Greg (first name used in meeting transcript) said the…