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April 21, 2019

3/12/2019 1:54:00 PM
EDA board considers Cemstone appraisal

On Monday, the EDA board got its first look at the newly-released appraisal for the Cemstone housing redevelopment project.

Windom Economic Development Authority Executive Drew Hage said the appraisal for lakeshore lots came in at $130,000, which is higher than expected. He added that the intent all along has been to sell the lots for $60,000 to $80,000, which is closer to what he anticipates for the selling price, at least during 2019.

Hage has said the city needs need to get Tax Increment Financing dollars into the project early. Consequently, there will be significant incentives for those who begin their home projects within the next year or so.

For much more on this story, see the March 13 Cottonwood County Citizen and Citizen eEdition.


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