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Action on Resolution 26-069, a Resolution Transferring Real Property to the Brookings Regional Growth Alliance for Economic Development.
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Summary and Recommended Action:
Action on Resolution 26-069, a resolution transferring real property to the Brookings Regional Growth Alliance for economic development purposes. The Brookings Regional Growth Alliance will transfer approximately 29.5 acres of real property within Block Eight (8) except the platted lots thereof and except the south Seventy (70) feet of Wiese Addition in the Northwest Quarter of the Southeast Quarter (NW ¼ SE ¼) of Section Nineteen (19), Township One Hundred Ten (110) North, Range Forty-Nine (49) West of the 5th P.M., City of Brookings, County of Brookings, State of South Dakota, to a national retailer for development of the real property.
The purchase price is approximately Five Million, Three Hundred Ninety Thousand, Five Hundred Fifty ($5,390,550) Dollars for approximately Twenty-Seven and One-Half (27.5) acres of developable land, exact land area and dollar amount to be determined based upon a survey prior to closing. The square foot sale price is consistent with a January 2026 appraisal of the property.
Staff recommends approval.
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Attachments:
Memo
Resolution
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