HomeMy WebLinkAbout5.1a Hohenstein Land Purchase Memo
TO: Economic Development Authority
Jennifer Levitt, Executive Director
FROM: Gretchen Larson, Economic Development Director
DATE: April 7, 2023
RE: Hohenstein Real Estate, LLC Land Purchase Agreement
Background/Discussion
The City of Cottage Grove has received a purchase agreement from Hohenstein Real Estate
LLC, a Minnesota limited liability company, for the purchase of the vacant parcel located at 95th
Street South and Jamaica Avenue South. The vacant parcel is 19.17 acres, is zoned I1, and
the developer is going to build a beverage distribution company and is the end user.
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.
The land within the parcel is owned by Glendenning Farms, L.P., a Minnesota limited partnership,
WAG Farms, Inc., a Minnesota corporation and Joan Glendenning Kennedy Family Limited
Partnership, a Minnesota limited partnership (individually and collectively “WAG”). Historically, all
land in the Business Park has been sold to the EDA and then sold to end user, allowing for cost
recovery to make the site pad ready.
Economic Development Authority
April 6, 2023
Page 2 of 2
Recommendation
1. Approve a resolution for the purchase of property from WAG and sale of property to
Hohenstein Real Estate, LLC for development purposes.
2. Authorize the EDA President and City Administrator to execute the Purchase Agreement with
WAG for the purchase of 19.17 acres for development purposes.
3. Authorize the EDA President and City Administrator to execute the Purchase Agreement with
Hohenstein Real Estate, LLC for the purchase of 19.17 acres.
Attachments
Resolution 2023-002
Purchase Agreement with WAG
Purchase Agreement with Hohenstein Real Estate, LLC