Proposed redevelopment of Cottage Grove Home Depot falls through
November 13, 2012 at 5:19 am in South Washington County Bulletin
A proposed redevelopment of Cottage Grove’s largest vacant retail space to feature an LA Fitness health club is dead for now, scuttled by the developer’s inability to complete a property deal before a special tax revenue program key to the project expires. Continue Reading
I’ll admit that I don’t know a lot about what exactly is entailed in this debacle but if I were the city, I’d look for another developer to do something with this property rather than place any bets on Stonehenge. If they couldn’t get their ducks in a row with the amount of time they were given to seal a deal the first time around, there’s no reason to believe they’ll be able to pull it off with a second chance.
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I think it sucks that the only way to get tenants to move in is to give them million dollar incentives. I got no such incentive to buy my house in CG, yet I have contributed more taxes and revenue to the city than Stonehenge. Isn’t that what happened with Home Depot? Once the sweet tax deal ran out, it was time to go. Sounds like a bad deal for the city in the long run.
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sure hope this does not happen with Walmart
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Walmart is a done deal
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