In June of 2022, the City reviewed a concept plan from Fiduciary Real Estate Development, Inc. for the Dreger property located on County Highway PD, west of County Highway M. The developer is requesting to move forward with developing the property which will include annexation, and other municipal approvals. The draft agreement requires a deposit and reimbursement for City review costs, City Administrator Adam Sayre explained during the Aug. 8 Common Council meeting. The City will draw upon the reimbursement account for costs associated with the development including third party legal and engineering fees. The City Attorney drafted the agreement and City Staff recommended approval.
The Common Council approved the agreement 7-0.