Mankato Council Discusses Possible Expansion for Future Eide Bailly Ramp
MANKATO, MINN - Mankato City Council discussed the parking ramp situation for the future Eide Bailly tower at Monday's meeting.
The current deal made between the city and developers allows for cooperation with neighboring property owners to expand the ramp.
City staff opened up a public comment period for those property owners to express interest in the expansion, but staff says no commitments were received yet.
The possible expansion would be as much as $135,000 for stalls to be added.
Developers said they will undertake the work but the cost will need to be picked up by another party.
City staff has suggested one option would be for the city to reimburse the developer for the extra cost from Economic Development Fund, then repay the fund through tax increment revenue.
Mankato also has the option of purchasing the ramp after 25 years after development.
----KEYC News 12