Sale of North "Y" Gateway First Addition lot for commercial development
Summary
The city is selling a lot it acquired for commercial development in the North "Y" Gateway addition. The Kelley Investments deal includes a 10-year, $200,000 minimum assessment agreement to guarantee development value and a two-year construction deadline. The public hearing on that sale is set for November 2, 2026.
At a glance
- Total mentions
- 1
- Last 30 days
- 1
Discussed at 1 meeting in the last 60 days; most recently Oct 26, 2026.
Impact analysis
The city gets $75,390 for the lot but gives back about $27,000 as a development incentive in exchange for a $200,000 minimum assessment agreement.
Kelley Investments gets a discounted gateway lot to build a commercial business, and the city gains future tax base and development on vacant land.
Mentions & discussions (1)
Related development
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