A letter of intent from a developer to develop Blazing Star Landing could be in the city’s possession this week.

Albert Lea City Manager Chad Adams said during a study session Thursday the city could have the letter within one week.

Adams said Friday the city solicited developers, looking into whether they wanted to develop more than individual components of the project.

“We’ve had some interest in that so far,” he said.

The city hopes to commit to a developer in the next 30 to 60 days so the state Legislature knows private developers are interested in building on the site.   

“We want them to be aware that we’ve got very strong interest,” Adams said.

The name of the developer has not been released.

“I’ve just been having some side conversations here and there, but it’s starting to progress, which is nice to hear,” Adams said.

Adams said developers are interested partially because of the site’s location near Fountain and Albert Lea lakes, and a closing period is planned for other developers to show interest in the project, which is expected to be discussed today at a Senate Capital Investment Committee meeting in Albert Lea.

The city previously unsuccessfully requested $3.5 million for first phase development to move Front Street to make way for lakefront development and preliminary preparation work north of the railroad.

Adams expressed confidence the state will fund the city’s $20 million bonding request this year for Blazing Star Landing, noting the House Capital Investment Committee last year hinted it wanted to see a developer for the site secured.

Adams said the full amount was requested because of local interest in the project.

“Our local partners are very excited about the prospects as well, too,” he said. “So I think this is something that we’re going to be talking about a lot more here in the community here over the next several months.”

Work previously planned for the second phase of the project includes the construction of a community center plus additional work north of the railroad. Plans for a community center have included space for senior services and programs, meeting and activity rooms, a four-lane walking and running track, a fitness room with free weights and cardio, studio spaces, an aquatics area, an indoor play park, game room, four-court gymnasium, racquetball courts and child care, among other amenities. Private development would also occur with the second phase development.

Fifth Ward Councilor Robert Rasmussen said during Monday night’s Albert Lea City Council meeting he did not have a strong opinion on potential development.

“We’re still kind of talking things over, so … nothing’s definitive yet as far as that goes,” he said.

During Monday night’s meeting, the council:

Approved increasing the annual candidate filing fee from $5 to $25.

Announced City Council study sessions starting in March will be at 5:30 p.m. Mondays before council meetings.

Identified U.S. Bank’s location in Albert Lea, Wells Fargo Securities, RBC, Stifel and Minnesota Municipal Money Market Fund as depositories for city funds.

Named Albert Lea Tribune its official newspaper this year for legal purposes.