Elk Run off and running
Here's some from a piece by Laura Gossman with a minor assist from me.
Money is rolling in at the Elk Run biotechnology community by Pine Island and work on the infrastructure and utilities should start on Aug. 1. No word yet on tenants.
Elk Run seems to be off and running with money from the state, Pine Island and Tower Investments to fuel it.
The Pine Island City Council voted 5-0 Tuesday to approve the preliminary plat for Tower Investment’s Elk Run project, a proposed biobusiness park along U.S. 52.
The council also voted to extend sewer and water to the development site and to award a $1.8 million contract to A-1 Excavating of Bloomer, Wis.
Pine Island City administrator Abraham Algadi said Tower Investments agreed to transfer $1.2 million to the city to help pay for utility extension.
"It has been a long haul, which started long before we got involved," says Alex Marks, senior vice president of Tower. "This is a huge milestone. Things are obviously going well if we’re plunking down more than a million dollars."
Work at the site is slated to start August 1.
The city was also awarded a $600,000 grant from the Minnesota Department of Economic Development to help cover the cost of utility extensions to the site.