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EDA PACKET 08.20.19
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EDA PACKET 08.20.19
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Last modified
10/14/2019 11:23:51 AM
Creation date
10/14/2019 11:22:43 AM
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Commissions
Meeting Date
8/20/2019
Document Type
Agenda/Packets
Commission Name
EDA
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REDEVELOPMENT OPPORTUNITY <br />LAND SALE OPTIONS <br />-' �.x-:., r,.•r Vr,.- ,. � w+cs�Mi1�'�N_..'''u�'!kswr+rr!�"wahw - <br />PRIME DEVELOPMENT LAND <br />DOWNTOWN HUGO <br />Forest Boulevard (TH 61) on 4.3 acres <br />Hugo, Minnesota 55038 <br />PROPERTY • zoning: Central Business (C-1), allowing for <br />multiple commercial uses. <br />HIGHLIGHTS <br />• A market study has been recently completed <br />s ,� <br />for the downtown area. <br />.= ; <br />• Located within a Tax Increment Financing (TIF) <br />District. <br />• Approved redevelopment plans for a restaurant <br />use on a portion of the property. <br />• Price of property can be reduced when <br />D5 <br />development criteria is met. <br />a <br />• The property is owned by the City of Hugo. <br />• A market study has been recently completed <br />s ,� <br />for the downtown area. <br />.= ; <br />• Located within a Tax Increment Financing (TIF) <br />District. <br />• Approved redevelopment plans for a restaurant <br />use on a portion of the property. <br />• Price of property can be reduced when <br />development criteria is met. <br />• The property is owned by the City of Hugo. <br />• Downtown Plan and Design Guidelines apply <br />to development in this area. <br />The property is located in the heart of the City of Hugo and offers a wide array of opportunities for any buyer. <br />With over 650 feet of lakeshore frontage, this beautiful property is great for a mixed used development with a <br />restaurant/entertainment use, as well as, commercial, boutique retail, office, and housing. This property could <br />become the centerpiece for the downtown business district in the City of Hugo. A survey of the property is <br />available upon request. <br />CITY OF <br />The property is within minutes of the newly redesigned freeway interchange at 135E (ADTV 86,900) and <br />BLUIGOCounty Rd 14/8 (ADTV 13,900). Highway 61 (ADTV 14,100) has been recently resurfaced and a turn lane has <br />- EST. 1906 been constructed to access the property. The property is generally flat with very high visibility located on <br />Highway 61. <br />
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