Hyde Development will receive $2.2 million in subsidies to assist with constructing a new business park in Fargo, N.D.
Minneapolis-based Hyde pitched the $18 million Butler Business Park in Mayfor an area near the intersection of Main Avenue and Interstate 29.
The deal, which involved cleaning up contaminated land and removing five structures, was contingent on a $2.2 million tax increment financing package. The package was approved Monday, according to the Fargo Forum.
The park will have two to four buildings that combine for about 180,000 square feet of office/warehouse space. Prospective tenants in the complex are regional and national distribution companies as well as several office-showroom users, company Principal Paul Hyde in an email message.
Wayzata-based Mohagen Hansen Architectural Group is the project architect.
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