Otsego has accepted on April 26 Wright County’s request to participate in a Wright County Economic Development Authority.
The Wright County Board established the EDA in 2020, but it can only operate in cities and townships that adopt resolutions to participate.
It’s a five-year commitment, except if the county were to decide to enact a tax; cities and townships would be able to withdraw before the tax goes into effect.
Currently, the EDA has no intent of levying its own dedicated property tax, and notes the group’s activities will be funded with Wright County resources.
If the city did not participate, the Wright County EDA would not be able to assist any development projects within the city.
The city of Otsego’s own economic development authority is not impacted by the decision to participate.