FAIRMONT– The Fairmont Economic Development Authority (FEDA) on Monday held a brief meeting but checked off a big item when it approved a purchase agreement for property located near highway 39. The board has been talking about the plot for several months and plans to use it as an industrial park.

Economic Development Coordinator, Ned Koppen, said he had received a purchase agreement from the seller’s attorney and sent a copy to the city attorney, who made a number of changes.

“I have our city attorney’s purchase agreement version and am waiting to hear back what minor changes the seller wants to make. I’m asking you to approve the resolution to purchase that property at the $832,000 that’s under the number we discussed at our last meeting,” Koppen said.

The board has been considering purchasing the 37.6 acres for somewhere between $19,250 to $25,000 per acre and at its meeting last month agreed it would pay up to $22,500 per acre.

Koppen said the seller wants to close sometime in October but that the board needed to exercise its intent to purchase it.

The board approved of the resolution agreement and Koppen said they will continue to move forward on it.

Koppen also spoke briefly about a 2024 city budget workshop which took place last week. He said from an economic development side, the 2024 budget will be nearly the same as Koppen said he didn’t ask for any more money to be included.

“I axed out everything under the incubator building because that is gone (sold) now,” Koppen said.

He also provided a brief update on a new business, Les Schwab Tires, which would like to open in Fairmont. He said it will be at the October planning commission meeting asking for a conditional use permit.

At the end of the meeting, Koppen said, “short but sweet. Moving forward on the industrial park is a big deal.”