SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549





                                    FORM 8-K

                                 CURRENT REPORT

     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934



        Date of Report (Date of Earliest Event Reported) - MARCH 28, 2005




                                  ALLETE, INC.
             (Exact name of Registrant as specified in its charter)

           MINNESOTA                    1-3548                   41-0418150
   (State of Incorporation)     (Commission File Number)       (IRS Employer
                                                             Identification No.)

                             30 WEST SUPERIOR STREET
                          DULUTH, MINNESOTA 55802-2093
          (Address of principal executive offices, including zip code)

                                 (218) 279-5000
              (Registrant's telephone number, including area code)





Check  the  appropriate  box  below  if the  Form  8-K  filing  is  intended  to
simultaneously  satisfy the filing obligation of the registrant under any of the
following provisions:

/ / Written communications pursuant to Rule 425 under the Securities Act (17 CFR
    230.425)

/ / Soliciting  material  pursuant to Rule 14a-12 under the Exchange Act (17 CFR
    240.14a-12)

/ / Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
    Act (17 CFR 240.14d-2(b))

/ / Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
    Act (17 CFR 240.13e-4(c))




SECTION 8 - OTHER EVENTS

ITEM 8.01 OTHER EVENTS.

On March 28, 2005, the Town Center at Palm Coast Community  Development District
(Palm Coast CDD) issued  $26.4  million of  tax-exempt,  6% Capital  Improvement
Revenue Bonds,  Series 2005,  due May 1, 2036 (Bonds).  The Bonds were issued to
fund  a  portion  of  ALLETE  Properties,  Inc.'s  Town  Center  at  Palm  Coast
development  project in Florida (Town Center).  Approximately $21 million of the
Bond proceeds will be used for  construction of  infrastructure  improvements at
Town Center,  with the remaining  funds to be used for capitalized  interest,  a
debt service reserve fund and costs of issuance.  The Bonds are payable from and
secured by the revenue derived from assessments imposed, levied and collected by
the Palm Coast CDD. The assessments  represent an allocation of the costs of the
improvements, including bond financing costs, to the lands within the Palm Coast
CDD benefiting from the  improvements.  The assessments  will be included in the
annual property tax bills of land owners beginning in November 2006.

Additional Town Center development costs, estimated at approximately $26 million
(up to $11  million  of  which  are  reimbursable  through  traffic  impact  fee
credits),  will be financed with an $8.5 million  revolving  development loan of
Florida Landmark  Communities,  Inc., which is guaranteed by Lehigh  Acquisition
Corporation. The initial term of the revolving development loan is 36 months.

Palm  Coast  CDD  is an  independent  unit  of  local  government,  created  and
established in accordance with Florida's Uniform Community  Development District
Act of 1980 (Act). The Act provides legal authority for a community  development
district to finance  the  construction  of major  infrastructure  for  community
development with general obligation, revenue and special assessment revenue debt
obligations.

ALLETE  Properties,  Inc.  is a  wholly-owned  subsidiary  of ALLETE,  Inc.  The
developer of Town Center is Florida Landmark  Communities,  Inc., a wholly-owned
subsidiary  of Lehigh  Acquisition  Corporation,  which is an 80  percent  owned
subsidiary of ALLETE Properties, Inc.


                              --------------------

READERS  ARE  CAUTIONED  THAT  FORWARD-LOOKING  STATEMENTS  SHOULD  BE  READ  IN
CONJUNCTION WITH ALLETE'S DISCLOSURES UNDER THE HEADING:  "SAFE HARBOR STATEMENT
UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995" LOCATED ON PAGE 2 OF
THIS FORM 8-K.




                      ALLETE Form 8-K dated March 29, 2005                     1


                           SAFE HARBOR STATEMENT
           UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

In  connection  with  the  safe  harbor  provisions  of the  Private  Securities
Litigation  Reform Act of 1995,  ALLETE is hereby filing  cautionary  statements
identifying important factors that could cause ALLETE's actual results to differ
materially from those projected in  forward-looking  statements (as such term is
defined in the Private  Securities  Litigation Reform Act of 1995) made by or on
behalf of ALLETE in this  Current  Report  on Form  8-K,  in  presentations,  in
response to questions or otherwise.  Any  statements  that  express,  or involve
discussions as to,  expectations,  beliefs,  plans,  objectives,  assumptions or
future events or performance (often, but not always, through the use of words or
phrases such as "anticipates,"  "believes,"  "estimates,"  "expects," "intends,"
"plans,"   "projects,"   "will  likely   result,"  "will  continue"  or  similar
expressions) are not statements of historical facts and may be forward-looking.

Forward-looking   statements   involve   estimates,   assumptions,   risks   and
uncertainties  and are  qualified  in their  entirety by  reference  to, and are
accompanied by, the following important factors, which are difficult to predict,
contain uncertainties,  are beyond ALLETE's control and may cause actual results
or  outcomes  to differ  materially  from  those  contained  in  forward-looking
statements:

     - ALLETE's ability to successfully implement its strategic objectives;
     - prevailing governmental policies and regulatory actions,  including those
       of the United States  Congress,  state  legislatures,  the Federal Energy
       Regulatory  Commission,  the Minnesota Public Utilities  Commission,  the
       Florida  Public  Service  Commission,  the Public  Service  Commission of
       Wisconsin,   and   various   local  and  county   regulators,   and  city
       administrators,  about allowed rates of return, financings,  industry and
       rate structure,  acquisition and disposal of assets and facilities,  real
       estate  development,  operation  and  construction  of plant  facilities,
       recovery  of  purchased  power  and  capital   investments,   present  or
       prospective  wholesale and retail competition  (including but not limited
       to  transmission  costs),  and  zoning  and  permitting  of land held for
       resale;
     - effects of restructuring initiatives in the electric industry;
     - economic and geographic factors, including political and economic risks;
     - changes  in  and  compliance  with  environmental  and  safety  laws  and
       policies;
     - weather conditions;
     - natural disasters;
     - war and acts of terrorism;
     - wholesale power market conditions;
     - population growth rates and demographic patterns;
     - the  effects  of  competition,   including  competition  for  retail  and
       wholesale customers;
     - pricing and transportation of commodities;
     - changes in tax rates or policies or in rates of inflation;
     - unanticipated project delays or changes in project costs;
     - unanticipated changes in operating expenses and capital expenditures;
     - global and domestic economic conditions;
     - capital market conditions;
     - changes in interest rates and the performance of the financial markets;
     - competition for economic expansion or development opportunities;
     - ALLETE's ability to manage expansion and integrate acquisitions; and
     - the outcome of legal and  administrative  proceedings  (whether  civil or
       criminal) and settlements  that affect the business and  profitability of
       ALLETE.

Additional  disclosures  regarding factors that could cause ALLETE's results and
performance to differ from results or performance anticipated by this report are
discussed in Item 7 under the heading  "Factors that May Affect Future  Results"
beginning on page 36 of ALLETE's 2004 Form 10-K. Any  forward-looking  statement
speaks  only as of the  date  on  which  such  statement  is  made,  and  ALLETE
undertakes  no  obligation  to update any  forward-looking  statement to reflect
events or  circumstances  after the date on which that  statement  is made or to
reflect the occurrence of unanticipated  events. New factors emerge from time to
time and it is not possible for management to predict all of these factors,  nor
can it assess the impact of each of these factors on the businesses of ALLETE or
the extent to which any factor,  or  combination  of factors,  may cause  actual
results  to  differ  materially  from  those  contained  in any  forward-looking
statement.  Readers  are urged to  carefully  review and  consider  the  various
disclosures  made by ALLETE in its 2004 Form 10-K and in ALLETE's  other reports
filed  with the  Securities  and  Exchange  Commission  that  attempt  to advise
interested parties of the factors that may affect ALLETE's business.




2                     ALLETE Form 8-K dated March 29, 2005



                                   SIGNATURES


Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.





                                                  ALLETE, Inc.





March 29, 2005                                  James K. Vizanko
                               -------------------------------------------------
                                                James K. Vizanko
                               Senior Vice President and Chief Financial Officer




                      ALLETE Form 8-K dated March 29, 2005                     3