Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Economic Development Land Sale topic
No spam. Unsubscribe anytime.
Council authorizes sale of Tech Park lots; developers describe seed‑treatment manufacturing plans
Summary
Council authorized the sale of about 10.4 acres in the Tech Park at 80% of an appraised value and heard a presentation from principals Don and Valerie King describing plans for a seed‑treatment manufacturing operation. The council expressed general support and asked staff to proceed with sale procedures.
The Princeton City Council authorized offers to be solicited for five Tech Park parcels totaling about 10.4 acres, with staff reporting a combined appraisal of $200,000 and proposed sale terms at 80% of that appraisal.
Theresa (city staff) told the council the resolution focuses on Lots 5, 12, 13, 15 and Out Lot 7, and that selling the land would return EDA‑funded park property to active private use. “At this point, this resolution is focusing Lots 5,12,13,15 and out Lot 7, of the Tech Park there. It comes up about 10.4 acres in total. We did have this appraised, and we're only looking for 80% of the appraised value,” Theresa said.
Don and Valerie King, principals involved with the proposed project, described plans for a manufacturing operation called a seed‑fluency plant that will produce seed‑treatment powder and related inputs for farmers. Don King said the company is arranging production to serve multiple U.S. regions and anticipated constructing the seed building by December with production ramping for the spring planting season.
Council members and community supporters—who noted earlier EDA involvement in the park—expressed support. Keith Cain and other local supporters praised the project and its potential to bring local jobs and reinvest tax‑exempt EDA property into private use.
The council voted to authorize the sale; staff said it will seek offers at 80% of the appraised total and return with details on offers and closing timelines.
