Inver Grove Heights EDA approves amended purchase agreement to acquire 4.25-acre golf-course parcel

The Inver Grove Heights Economic Development Authority on June 9 approved a resolution amending an earlier purchase agreement and authorized acquisition of a 4.25-acre parcel that has been tied to previous golf-course land transactions.

Director Zemer told members the parcel sits at the northwest corner of 70th Street and Babcock Street and that the EDA originally began the transfer process in 2012 but the city retained formal ownership. Zemer said the city and EDA recently replatted the golf course and that the 4.25-acre lot had been designated as an outlot; a comprehensive plan amendment and rezoning for the “red” parcel have already been approved.

The amended and restated purchase agreement before the EDA preserves the previously discussed purchase-value approach, Zemer said, and leaves the question of final price allocation to the point of sale. He described the item as completing the 2012 land transaction and said valuation split between the parcels can be resolved at a future sale.

Commissioner Takata asked whether the purchase agreement’s listed conditions — including zoning to mixed use/R3C — would bind future uses. Zemer said the agreement is intended to document entitlements and closing conditions rather than to forever lock future land-use decisions; any future developer seeking a different use would follow the usual rezoning and approval process.

An unnamed EDA member moved to approve the resolution and another EDA member seconded. Members voted in favor by voice and the motion passed.

The item also appears on the city council consent agenda for the June 9 council meeting, staff noted, so the related city-side action was expected before the council that evening.