Economic Development Opportunities

In 2024 the City of Floodwood purchased 127 acres of undeveloped land. This land offers unique opportunities for growth including but not limited to commercial development, housing development, parks and recreation opportunities and more. 

In 2023, after applying to the MN Housing Partnership, the City of Floodwood was selected to participate in the 9^th MN Housing Partnership Institute.  We are honored to have been chosen to participate, and we realize what a great opportunity this is! Our local housing partnership team that has completed the institute and will give an update at the February 3rd event.

 

Acquiring new property for city development involves a series of steps and actions that must be completed before any construction can begin. This process requires careful planning and time. 

1. Annex the property into the city limits.

2. Conduct a Phase I environmental study to analyze soil conditions.

3. Depending on the results of the Phase I study, a Phase II study may be necessary.

4. Develop a comprehensive master plan for the entire property.

5. Identify and engage builders and contractors.

6. Secure funding for the project.

7. Begin construction.

This is just a broad overview and may not cover all the specifics, but it gives you a good sense of the process.