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EDA asks City Council to explore purchase of 'Fury' property; motion passes
Summary
The Economic Development Authority voted to ask the City Council to investigate the feasibility of acquiring the privately listed Fury property (listed at about $5 million), directing staff to evaluate potential public benefit and report back.
The Lake Elmo Economic Development Authority voted to request that the City Council explore the feasibility of purchasing the privately listed Fury property as a potential strategic acquisition, with instructions that the review avoid acquiring the site for dealership use and focus on public benefit and redevelopment options.
Members discussed the listing (reported in the meeting as around $5 million) and potential uses that could benefit the city. The EDA framed the motion as an initial feasibility and due‑diligence request rather than an instruction to purchase.
The motion was made, seconded and passed by voice vote; the transcript does not record individual roll‑call votes. Staff were asked to return with an analysis on viability, potential funding mechanisms and timeline, and to present findings to the council and EDA at a future meeting. The EDA noted that any acquisition would require appropriate council action, possible financing decisions and public review before a purchase could proceed.
