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Tri Valley demolition cost more than doubles earlier estimate; council told to plan for bonding
Summary
City staff told council that an updated AE2S demolition estimate for the Tri Valley property exceeds $1.3 million (excluding tipping/disposal), prompting staff to raise the deed-redevelopment grant request to $984,000 and to plan for city matching and potential bonding to meet demolition timelines tied to a 2027 MnDOT Highway 2 reconstruction.
City staff updated the council on the Tri Valley redevelopment grant and demolition planning, saying that AE2S’s updated demolition estimate is just over $1.3 million (approximate and excluding tipping and disposal fees). The original deed-redevelopment grant request, submitted Jan. 20, was $650,000 (a 50% grant, requiring a city match). Based on the new AE2S estimate, staff said they increased the requested grant amount to $984,000 before…
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