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Forest Lake approves right-of-refusal and option agreement with developer for two Airport Business Park parcels
Summary
Council approved a first right of refusal for the southern parcel and an option agreement for the northern parcel at the Airport Business Park with Gaughn (record shows variant spellings) Development; the option includes a $15,000 option fee, a listed purchase price of $353,500 in staff materials, a minimum 30,000-square-foot development expectation, and a deed reversion clause if development commitments are not met.
Forest Lake City Council approved two land agreements with a private developer for city-owned parcels in the Airport Business Park, moves city staff said are intended to preserve planning flexibility while allowing an interested developer time to formalize plans.
City staff member Abby explained the city owns two parcels along Fenway Avenue and has held long-term negotiations with the developer (appearing in the record under variant spellings including "Gunn," "Gon," and "Gaughn"). For the southern parcel,…
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