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Appendix E: Relevant News Articles (cont.) ~~ t1MMEAp0US~1! p~~~ City plans 120-acre industrial park to bring Monticello jobs PAinneapalis/St. Paul Business Journal -April 30, 2Q09 by Scott D. Smith Staff reporter Monticello city leaders think the private market isn't attracting enough industrial jobs, so they plan to open a t2o-acre industrial park that will compete with nearby land owners. The leaders are in negotiations to purchase the acreage of raw land at the southwest quadrant of the intersection of Highway 25 and Interstate 94• "We would be in a better position if we had our own land to market rather than relying on the private market," said Rick Wolfsteller, city administrator for Monticello. City leaders want to attract well-paying, industrial jobs before homeowners and retailers consume all its land. "We don't just want to be a bedroom community with a Target store," Wolfsteller said. It is not uncommon for cities to purchase land for industrial parks. Examples in the north metropolitan area include Elk River, Anoka, Buffalo and Big Lake. If the deal goes through, the city plans to spend about $3 million to buy the t2o acres owned by John Chadwick of Bloomington-based Otter Creek, Wolfsteller said. The city would spend another $3 million for infrastructure, including roads, sewers and water service, he said. Chadwick would not sell his entire parcel. He is retaining a 4o-acre strip of land fronting I-94• By starting its own industrial park, Monticello will compete with the Monticello Industrial Park, 40 acres of industrial land within a mile of the city's proposed development. The city identified Shawn Weinand, of Osseo-based Progressive Development & Construction, as one of possible several investors in that property. Weinand also has an interest in another 3o acres, which constitutes nearly all of the land in Monticello available for industrial development. Weinand could not be reached for comment. To counter a "monopoly" on the industrial land in Monticello, Wolfsteller said, city leaders want to open up the market to lure companies to Monticello.