HomeMy WebLinkAbout5.1a 7470 East Point Douglas Land Sale Memo
TO: Economic Development Authority
FROM: Gretchen Larson, Economic Development Director
DATE: April 8, 2022
RE: Land Sale and Purchase Agreement with Hang, LLC
Background/Discussion
The property at 7470 East Point Douglas Road, which is located at the corner of Hefner Avenue
and East Point Douglas Road, is currently owned by the EDA and is vacant. The previous uses
at the site included a gas station and most recently the Village Transmission Shop, which closed
the fall of 2018. In 2019, the EDA purchased the land to prepare it for redevelopment and the
building was demolished that same year.
The City of Cottage Grove received a Letter of Intent (LOI) from HANG LLC dated February 4,
2022, for the purchase of the vacant parcel located 7470 East Point Douglas Road. The EDA
authorized the execution of the LOI at the meeting on February 8, 2022 by a unanimous vote.
The vacant parcel is approximately 0.54 acres and the has a purchase price of $188,179.20. The
property is zoned B-2 Retail Zoning District to encourage retail sales and services by grouping
businesses that minimize the influence on surrounding residential neighborhoods.
Economic Development Authority
April 8, 2022
Page 2 of 2
The site would be the future home of Thai Garden. They are a small, family owned business
and currently have a location in St. Paul, MN.
The building shown in the site plan is 3,050 square feet and shows indoor seating for
approximately 100 people and outdoor seating for approximately 40 people. At this time, no
planning application for the project has been received.
Pursuant to Minn. Stat. 469.105, the EDA must hold a public hearing on the sale of the property
and publish notice of the hearing at least 10 but not more than 20 days in advance. Such notice
was published in the City’s official newspaper for this hearing.
Recommendation
1. Approve a resolution authorizing the sale of property to Hang, LLC for development purposes.
2. Authorize the EDA President and City Administrator to execute the Purchase Agreement with
Hang, LLC for the sale of 0.54 acres for development purposes.
Attachments
Resolution
Purchase Agreement with Hang, LLC