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Duluth DDA approves assignment of 3435 Davenport Road sale to Seed Capital Investments
Summary
At its June 16 meeting, the Duluth Downtown Development Authority approved assigning the Purchase and Sale Agreement for 3435 Davenport Road to Seed Capital Investments for $340,000 and modified a deed-restriction clause to remove a reference to a building permit.
The Duluth Downtown Development Authority on June 16 approved an assignment of the Purchase and Sale Agreement for a 0.688-acre parcel at 3435 Davenport Road to Seed Capital Investments, LLC for $340,000 and authorized a change to Condition 10(g) of the agreement to remove a reference to a “building permit.”
Director of Economic Development Chris McGahee presented the proposal, saying the assignment would transfer Embry Development Company LLC’s rights in the agreement to Seed Capital Investments for the previously agreed purchase price. The modification to Condition 10(g) would eliminate the phrase “building permit” from that subclause while retaining the remainder of the deed-restriction language, McGahee said.
Vice Chair Jim Graham moved approval of the fourth amendment and assignment; Secretary Richard Meehan seconded. Chair Ken Odum and all members present voted in favor; the motion carried unanimously. The board authorized the chair to execute any documents the DDA attorney deems necessary to implement the assignment and the condition change.
The motion recorded in the meeting minutes does not include further detail on how the change to Condition 10(g) will affect permitting or future development approvals. No public comment on the assignment was recorded in the minutes. The next scheduled DDA meeting is July 21, 2026, when staff may provide additional implementation details if requested.
