St. Cloud EDA Buying Back Arctic Cat Property in Business Park
ST. CLOUD (WJON News) -- The St. Cloud Economic Development Authority is moving forward with buying up some underdeveloped land in the I-94 business park.
The EDA wants to buy 17.9 acres from Arctic Cat.
Back in September 2016, the parties entered into a contract for the private development of a manufacturing and testing facility on the property. However, in 2017 Textron acquired Arctic Cat and the project was postponed.
Now the company no longer has a use for the property.
The purchase price for the land is $567,500 with the EDA and St. Cloud Opportunities each paying half.
Once the sale is complete, the property will be marketed for sale and development.