The Worthington Economic Development Authority during a Tuesday meeting established the sale price of the 17 residential lots in the newly constructed Cecilee Addition.
The Worthington City Council's Economic Development Subcommittee had met Monday to review the total project development costs and consider market conditions in forwarding a recommendation to the EDA. The total development cost including land acquisition, assessments, construction improvements and professional fees is $779,180, or $45,834.12 per lot. The EDA followed the subcommittee's recommendation to price the lots at $41,000 each and to offset the development costs and seller's closing fees using American Rescue Plan Act (ARPA) funding allocations.
In another matter Tuesday, the EDA voted to accept property in the Glenwood Heights Third Addition from the city Council. The council had approved a resolution during its Monday evening meeting to convey the city’s Glenwood Heights Third Addition to the EDA so that lots may be sold for residential development in accordance with state statute.
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