Vacant, city-owned land in Milton’s east-side industrial park is almost gone now that another proposed development has received city council approval.
The council unanimously agreed last week to sell 8 acres to Badger Properties for $1. In return, the developer will build a 60,000-square-foot light manufacturing and office facility at the northeast corner of County M and Putman Parkway, City Administrator Al Hulick said.
Milton also will provide a loan of $240,000. The city will forgive the loan over a 10-year period as long as the new facility maintains an annual value of $1.6 million, Hulick said.
Badger Properties hopes to start construction this spring. It will then lease the building to another tenant.
The new tenant will likely be a light manufacturing business. Hulick could not disclose the name of the company because it has not officially signed a lease agreement with Badger Properties.
He also referenced another project that could soon join the bustling business park but did not go into detail.
“With this project moving forward and another project in the works, if that comes to fruition and this comes to fruition, for all intents and purposes, the city is out of city-owned land for development” in the business park, he said. “There will be a few remnant parcels left, but nothing in large tracts of land that could host a large building footprint.”
About 150 acres of privately owned land remain in the industrial park. The park’s success points to a healthy regional economy, he said.
“The investments we’ve made are paying off, and development is occurring,” Hulick said. “We’re getting quality employers and quality businesses in the business park. It’s a good thing.”