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Shakopee EDA approves temporary rent reduction to keep River City Center tenant
Summary
The Shakopee Economic Development Authority voted 3-2 on March 3 to temporarily roll a River City Center tenant's rent back to $14 per square foot through October 2027 after staff said the business's sales are "down about 30%," a measure intended to avoid vacancy and maintain downtown activity.
The Shakopee Economic Development Authority voted 3-2 on March 3 to approve a temporary modification to a downtown lease at River City Center aimed at keeping a local business in place. EDA staff told the board the tenant's sales had fallen sharply and recommended reducing the rate to $14 per square foot through October 2027 rather than risk a vacant storefront.
EDA p…
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