By Al Strain
Owatonna People’s Press, Owatonna, MN
Date: Tuesday, January 8, 2013
OWATONNA — The south end of Oak Avenue in Owatonna is going to be getting a makeover after a lot between Barney Street and 13th Street has sat vacant for a number of years.
The lot — currently home to an abandoned Hardee’s and a vacant Budget Mart gas station — is set to be redeveloped after the Tailwind Group, a group based out of Mankato, purchased the property.
The deal wouldn’t have been finalized without help from the Community Development Office from the City of Owatonna. The city will use Tax Increment Financing (TIF) to help fund the demolition of the two buildings, which has stood in the way for others who were interested in developing the property in the past.
“Usually it’s not a feasible project for them to do it all on their own,” said Community Development Director Troy Klecker. “That’s where we partner up with them and try to get the project going.” Read MORE