DEVELOPMENT AGREEMENT FOR TARGET, BURGER KING BUILDINGS

The New Ulm City Council approved a development agreement Tuesday that sets the stage for the future of the former Burger King and Target buildings.  The agreement is between BEEKI, LLC which is owned by BoCo Real Estate and the city.  The Burger King building has stood empty since September and the Target building has been used as warehousing since February 2023.  City officials say the agreement is an extension of a previous one with additions allowing future development and certain standards it would have to meet.  The agreement also calls for an expanded easement area and alignment for a bike/pedestrian trail.