The contract to sell 60 acres of town-owned land to a shopping center developer was extended another year by the Bristol Town Board and Community Development Authority Monday night.
The land is at the southeast corner of Highway K and the frontage road for Interstate 94.
Gary Stetson, representing Gateway Center , LLC, asked that no additional fees be included for the extension. That request was granted. The $250,000 Gateway has already deposited with the town would be at risk if Gateway walked away from the sale because the town would keep those funds.
While he acknowledges that retail developmemt is very depressed right now, Stetson suggested there is reason to be optimistic.
“I hope that in another year, things will get better,” Stetson said.
Supervisor Ruth Atwood told Stetson “If only we had a crystal ball. I appreciate you just not walking away.”
