At its regular session on November 5, 2026, the Buffalo City Council took decisive action on a real‑estate transaction within the Buffalo Business Park. Councilman Scott Madsen moved to reject the existing offer for Block 1, Lot 2 and to present a counter‑offer that would adjust the purchase price to $268,000.
Reasoning behind the price adjustment
According to Councilman Madsen, the proposed $268,000 price aligns with the cost per acre recently approved for an adjoining parcel during the council’s previous meeting. “It matches the cost per acre that we just did for our adjoining property that last meeting, which equates to the same cost per acre for the two properties,” he explained. By setting the price at $268,000, the council aims to ensure consistency across neighboring parcels and protect the city’s fiscal responsibility.
Council process and support
The motion was seconded by a fellow council member, and the council proceeded to vote. City Attorney Zane Hengel clarified that the council has the authority to reject the original offer and submit a revised proposal with the sole change being the price. The attorney emphasized that this procedural step does not alter any other conditions attached to the sale.
Implications for the Buffalo Business Park
The Buffalo Business Park is a key component of the city’s economic development strategy, offering space for manufacturers, logistics firms, and other businesses that create local jobs. By securing a price that reflects recent market transactions, the council hopes to keep the development attractive to investors while safeguarding taxpayer interests.
Local business leaders have expressed cautious optimism. While some stakeholders prefer a swift closing to maintain momentum, others appreciate the council’s diligence in ensuring the city does not overpay for public land. The counter‑offer is expected to be presented to the seller within the next few days, after which negotiations will continue.
Next steps
The council will monitor the seller’s response and, if necessary, schedule a follow‑up meeting to finalize the terms. City officials indicated that the transaction remains a priority, as the park’s development is tied to broader efforts to revitalize Buffalo’s industrial base and expand the tax base.
Residents interested in the progress of the Business Park can follow council updates on the City of Buffalo’s official website or attend future council meetings, which are open to the public.
Original reporting: Sheridan Media (Sheridan WY) — read the source article.
