WRIGHT COUNTY — A section of property located just south of the Prestage Foods of Iowa pork plant, is one step closer to being developed.

Wright County closed on 80 acres of land near the intersection of Iowa Highway 17 and 320th Street Tuesday morning, Cindy Litwiller, Wright County economic development director, reported.

Supervisors signed an agreement in October to purchase that land.

Officials intend to develop an industrial park there.

The land was previously owned by Sparboe Co.

The north 40 acres was purchased by the county at $25,000 an acre. The south 40 acres cost about $11,000 an acre.

At its meeting Monday, supervisors took a step to secure funding for the park.

They reviewed tabulation sheet proposals on a loan agreement to purchase $2.7 million general obligation urban renewal bond anticipation project note.

“That was the $2.7 million for the continuation of funds for the industrial park where we can build it out,” Supervisor Karl Helgevold said. “Up to $2.7 million to do infrastructure and things like that. It doesn’t mean we will go all the way with that, but it gives us access to the process of getting that infrastructure done. We have a few other financing tools we are going to work with USDA on also. That’s just the next step in the process of the financing.

He added, “That will be paid through the tax dollars of Prestage, that’s how that’s being covered on the industrial park.”

Supervisors also held the second reading of an ordinance that designates the south 40 acres for urban renewal.

“We are bringing the other 40 into the urban renewal area because what happened is we originally had the 40 acres in that,” Helgevold said. “And now we are adding the other vacant 40 acres. The property the county bought went south, if you look at the overhead. We had the first 40 already in it. That way if we do development in those other 40, it’s all the urban renewal. Now that we bought that land, we have the whole 80.”

A third reading will be held on that ordinance, Helgevold said.

“Just cleaning some things up as we go forward,” he said.

ISG has been hired by the county for site planning, including roads, storm sewer, and water supply.

According to Litwiller, the county plans on developing north 40 acres first.

In the meantime, the county may consider renting the south 40 acres for farming, she said.

Litwiller said the site is intended to house businesses that would support Prestage.

The Prestage plant was built on about 150 acres of land. It encompasses about 700,000 square feet.

Prestage plans to begin operations sometime in the coming weeks.

“We have been in discussions with potential businesses, but nothing yet to disclose,” Litwiller said.