Grand Forks Growth Fund approves industrial park land purchase option

The Grand Forks Growth Fund committee voted Tuesday afternoon to approve a conditional land purchase and a delayed purchase option for an Indiana renewable energy company seeking land in the Grand Forks Industrial Park.

The vote was 4-0 with one member of the committee absent. The potential land sale now advances to a Jobs Development Authority meeting July 5 for final approval, according to Greg Hoover, the city’s urban development director, who recommended approval at the meeting.

Indiana-based Energy Partners LLC has offered the city $350,000 for eight acres of land in the industrial park to be used for a future 21,600 square-foot glycerin production facility.

The purchase would be conditional, and the Growth Fund also approved a $7,500 six-month purchase option and a potential additional six-month extension, with terms to be negotiated, allowing the company time to explore building and design costs.

Schuster reports on business. Reach him at (701) 780-1107; (800) 477-6572, ext. 107; or send email to rschuster@gfherald.com.

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