BLUE EARTH - Blue Earth City Council and the Economic Development Authority have approved the purchase agreement to one lot and hope to have six more secured by morning for a new industrial park.
The action took place Thursday night in a special meeting of both entities.
"We need to get it back to the federal EDA by Monday so we'll still be eligible for the grant," said Rick Scholtes, Blue Earth mayor.
The grant will pay for half of the infrastructure for the industrial park.
The lots where the city of Blue Earth wants to build an industrial park are on the northwest corner of Interstate 90 and Highway 169. Each lot is between 4 and 7 acres.
The lot identified as Lot 6 is owned by BEISCO and is just south of County Road 103, along Highway 169. BEISCO signed the purchase agreement for $61,500 and $1,000 of earnest money.
Both the council and EDA approved the agreement, and the EDA approved assigning the lot to Blue Earth on the advice of city attorney David Frundt, so there is no confusion with the federal EDA over ownership of the lot.
Six of the lots are owned by the Manske family. The purchase agreement for those lots is for $850,245.
"I was hoping to have it approved so you could accept it," said Frundt. "We'll go forward with (approving) the contingent acceptance. We'll be able to sign it in the morning."
The EDA approved the agreement with the Manske family, but Councilman Glenn Gaylord had some questions before the council voted.
"What happens if tomorrow morning, they (Manske) don't sign this?" he asked. "I don't want to be hanging onto one piece and not another."
The BEISCO agreement is contingent on getting the Manske agreement and the federal grant, Frundt explained, so there is a way out of the BEISCO agreement if the city does not secure the six Manske lots.
The council approved the purchase agreement of the Manske lots, and the EDA assigned those lots to the city.
Now, the city and EDA wait to see if the Manske family accepts the purchase agreement, and the grant comes through.