The city of Albert Lea is far along in discussions with two large companies that are looking to locate at the Habben Industrial site, city manager Paul Sparks said Monday at the regular city council meeting.

Sparks could disclose little information about the interested parties, but he did say that they would be a &uot;significant employer.&uot; He said that the company would be smaller than Farmland, but it would have a large employee base. He said, &uot;the economic impact would be significant.&uot;

The site was originally reserved for Farmland, but the city has told the cooperative that they can no longer wait for a decision on whether or not it will rebuild at that site. They told Farmland that interested parties will be looking at the site.

We feel that we have to go ahead with it,&uot; Sparks said.

The land will be offered only to interested companies that will make a significant economic impact. The land would likely be given free of charge with the city recouping the costs through tax-increment financing (TIF).