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(KNSI) — St. Cloud is getting ready to buy back a piece of land sold to Artic Cat Inc. after an expansion project never materialized.

The St. Cloud Economic Development Authority sold Arctic Cat around 18 acres of land in the I-94 industrial park to develop a manufacturing/testing facility in September 2016. In early 2017, the company was sold to Textron, and the development project was canceled.

St. Cloud started negotiations with Arctic Cat for the sale and purchase of the property after it was learned the proposed project wouldn’t move forward. The city has agreed to buy the land for $567,500.

St. Cloud will put the land on the marker to attract a partner for the site’s development.

The meeting is Tuesday at 4:00 p.m. in the first-floor conference room in city hall.

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