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Property prices established in closed meeting

WORTHINGTON -- In a closed meeting Tuesday night, the Worthington Economic Development Authority (EDA) established asking prices for property.

The EDA, which has the same members as the city council, went into closed session under a Minnesota Statute that allows a public body to close a meeting "to determine the asking price for real or personal property to be sold by the government entity."

There were different sets of property discussed during the closed meeting.

Much of the property is around the Worthington Bioscience Industrial Park addition. In the park, the EDA discussed 34.14 acres of property.

Abraham Algadi, Executive Director of the Worthington Regional Economic Development Corp., was also present at the meeting.

Also included in the discussion was 17.86 acres of commercial property. There is one parcel of land to the north of the newly-constructed Event Center and adjoining Comfort Suites, and plots across U.S. Highway 59.

The per acre value for the industrial land was $57,350, which was set by the city. The city also owns the commercial land north of the Event Center. That price was set at $250,000. The commercial land was set by the EDA. The price for an eight-acre plot of land was $400,000, while a 3.2 acres plot was $250,000 and a 3.9 acre plot is $275,000.

In February, city staff has commissioned Brovold & Company, LLC to complete an appraisal for three commercial lots along the west side of Highway 59 and the 20 available lots within the Bioscience Park.

Daily Globe Community Content Coordinator Aaron Hagen may be reached at 376-7323.