Owatonna City Council Minutes January 6 2026
City Sells Oak Street Lot for Redevelopment
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Description
Owatonna City Council approved the sale of city property on Oak Street North to Redline Development Group, LLC for $100,000, with reimbursement slated through TIF funds over the first 10 years. The sale supports the larger Ascend South redevelopment initiative.
Contract Details
Contract Amount
$100,000
Vendor
REDLINE DEVELOPMENT GROUP LLC
Agency
City of Owatonna, MN
Contract Type
OTHER
Document Date
January 6, 2026
Contract Term
To be reimbursed over first 10 years of TIF district
Renewal Date
2036-01-06
Renewal Info
Reimbursement schedule via TIF over first 10 years as part of the development agreement.
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