PINE ISLAND — With an eye toward moving quickly, the Pine Island City Council on Tuesday authorized the utilities committee to enter into negotiations with a developer to create a development agreement that could bring more than 100 new homes to Pine Island.

"The private developer is a Minnesota developer/builder and is interested in a residential development of the lots just west of the elementary school," said City Administrator Elizabeth Howard. "The development has the potential to include up to 150 new single-family homes, town homes and villas."

Howard said Pine Island will run out of buildable lots at the end of 2021 after seeing a large increase in construction in 2020. The city issued 28 building permits for new single-family homes in 2020, double the number issued in 2019. The rest of the city's current stock of platted lots will be used up by the end of next year, she said.

Hoping to enter a development agreement quickly, the council asked the utilities committee, city staff and the EDA to work together to negotiate a deal beneficial to the city and the developer.

"We are out of lots at the end of 2021," Howard said. "We need more so we can have lots available for 2022."

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In a separate agreement, the city council approved the splitting of a lot east of Cornerstone Baptist Church on Opportunity Drive. The 5.9-acre parcel would have a roughly 1-acre piece split off for the purchase by an individual who would build a storage building on the site. Howard said details of the deal were unavailable Tuesday, but should become more clear in December.