Home Depot is the most recent commercial business to express an interest in southeast Minot real estate.
In an effort to ease future growing pains, the city of Minot saw an opportunity to share infrastructure costs with Home Depot to be sure street repairs are done correctly --- not only for the Home Depot lot, but for drainage and traffic flows.
The 'development agreement' was approved today (Wednesday) in a special session of the city council.
Once the agreement is signed, the city will hire a design engineer and road construction will begin this summer.
The one million dollar cost share partnership will improve 1st Street and 33rd Avenue behind the Home Depot site.
City Engineer Lance Meyer says normally, a special assessment would be made and the developer would financially carry the improvements.
(Lance Meyer, Minot City Engineer) "Here there are some special things that both parties wanted to see so we felt it would be in everybody's interest to do a developers agreement. It's just a little bit out of the ordinary for how we do things. The construction will be the same, there's just some agreements that had to be approved by both parties and that's what this was today."
Home Depot will set up a temporary site over the summer for contractors to make orders and the building construction will begin in 2014.