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EDA members weigh expanding New Prague industrial park
Summary
New Prague's Economic Development Authority discussed a staff memo on expanding the industrial park or creating a commercial/business park; members broadly supported exploring options but raised concerns about up-front costs, long time-horizon for municipal returns and alternatives such as residential or multifamily uses. Staff will return financial scenarios.
The New Prague Economic Development Authority discussed whether to expand the city's industrial park after Joshua (Josh) presented a memo outlining options including additional industrial lots or a commercial/business park.
Board members broadly supported exploring expansion opportunities but emphasized caution over immediate large capital outlays. Josh said the EDA's return on developing lots is long-term, "10, 15, 20, 30 years down the road," and framed the city's role as fostering long-range tax capacity rather than short-term land-sale profit.
The…
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