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Albert Lea council approves development agreements, offers incentives for infill housing projects
Summary
Council approved development agreements for Turning Point LLC and GFY Custom Crafts that gift lots and offer per-unit incentives (up to $5,000 water/sewer + $5,000 design/aesthetic) to spur construction of workforce housing; agreements include performance penalties and deadlines for future phases.
The Albert Lea City Council approved development agreements intended to spur infill housing on several city-owned lots, agreeing to transfer property and provide construction incentives to two developers.
For Turning Point LLC, the city will transfer a Belmont/Sparks lot at a stated city value of $44,000 and offer incentives of up to $5,000 per unit for water and…
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