The Minneapolis City Council unanimously approved the resolution to pay more than $9 million to end Kmart's lease on Lake Street. (FOX 9)
MINNEAPOLIS (FOX 9) - The Minneapolis City Council unanimously approves the resolution to pay more than $9 million to end Kmart's lease on Lake Street.
This clears the way to start redeveloping the 10-acre area. City leaders say reconnecting Nicollet Avenue and beefing up public transportation is a top priority.
Council member and City Council President Lisa Bender thanked many people that helped get the city to this spot.
"Everything even the very preliminary discussions that have taken place so far with policy makers and staff are really aimed at both of those goals of thinking big and thinking about our future, looking out 50 years or more and understanding how this can help us meet our sustainability, our race equity goals, our city building goals, creating again, a more connected neighborhood here, but also understanding the people who live there today, who own the businesses today will be front and center and especially putting every measure we can in place to ensure that this is an inclusive and affordable and welcoming place for the people who are there today going forward," said Bender.
Mayor Jacob Frey has said he will approve it. As part of the deal, Kmart will move out by June 30.