MASON CITY – The Cerro Gordo County Board of Supervisors has given its blessing to the North Iowa Fair Board to proceed with the sale of 2.3 acres of county-owned land at the fairgrounds.
The land, located on the south east corner of the fairgrounds property, has been for sale for years. The fair board turned down a lucrative offer for the property years ago that would have brought a hotel and other development. The latest offer, from an Omaha, Nebraska real estate company – Drew Snyder Real Estate, LLC – is for $550,000.
Possible developments for the property include restaurants and retail. NIT received word that a Mason City hotel could be closed and then re-built at the location.
The buyer and the Fair Association (board) have completed a purchase contract for the land. The county was represented by local attorney Jacqueline Arthur and County Administrative Officer Tom Drzycimski in the negotiations. After the Board of Supervisors signs off on the contract, the buyer will conduct site inspections, obtain financing, and work with local officials toward their development of the property.
By selling the property, the Fair Board would be able to obtain revenue to possibly complete much-needed upgrades to the existing fairgrounds property and pay off debt.