Cold Spring Considering Housing Project on Tax-Forfeited Land

COLD SPRING -- A proposed $7 million townhome project on tax-forfeited land in Cold Spring is under consideration by the city council.

The 32-unit housing project would be built on one of two options in the Blue Heron Heights neighborhood south of town.

The project was proposed at last (Tuesday) night's city council meeting by developer Sand Companies out of Waite Park in partnership with GNP Company in Cold Spring.

GNP's partnership is due to the company's need for more workforce housing, but the townhomes will not be limited strictly to GNP employees.

City Administrator Kris Dockendorf says the proposal asks for 10% participation of the project cost -- $700,000 in write-offs for assessments and lot prices.

"We've got these forfeited lots that are just sitting vacant right now," Dockendorf says. "We've already invested a lot of money in the infrastructure and we would like to see something on them to generate some tax revenue."

Dockendorf estimates the housing project would bring in more than $18,000 in annual tax revenue.

The city council will discuss the project and how much of the cost they would write off over the next two weeks before the next meeting.

A representative from Sand Companies estimates groundbreaking for the townhomes would be next June with a target finish date in mid summer of 2018.

Sand Companies has similar projects in St. Joseph (Morningside Townhomes) and Albany (Countryside Townhomes).