Lebanon Reporter

Local News

March 26, 2013

Dow deal on hold

Zionsville — Officials hope a decision can be made on the Dow Chemical land purchase by Memorial Day weekend.

Andy Buroker, attorney for the Zionsville Redevelopment Commission, told the commissioners Monday night, March 25, that they were still waiting to hear back from Dow after submitting another amendment to extend the closing date. The deal initially was slated to close in December, but has been delayed several times, mostly by environmental concerns.

The plan calls for Zionsville Community Schools to take $5.7 million from a 2005 bond to buy about 100 acres along 106th Street east of Zionsville Road. At closing, ZCS would give 90 acres to the RDC, and keep 10 acres to develop a maintenance facility that will house equipment now kept at the old Union school. The RDC would pay $285,000 per year to the schools until the Tax Increment Finance District expires in 2028.

“The previous agreement expired at the end of February,” he said. “This new amendment was signed, and we are waiting to hear back from Dow. It would extend everything to May 23. We asked for additional time to receive input.”

See Tuesday's Lebanon Reporter for more on this story, or subscribe to out eEdition.

1
Text Only
Local News

Featured items
Twitter Updates
Follow us on twitter
AP Video
Disbanding Muslim Surveillance Draws Praise Hundreds Missing After South Korean Ferry Sinks Passengers Abuzz After Plane Hits Swarm of Bees Boston Bomb Scare Defendant Appears in Court Pistorius Trial: Adjourned Until May 5 Diaz Gets Physical for New Comedy Raw: Ferry Sinks Off South Korean Coast Town, Victims Remember Texas Blast Freeze Leaves Florida Panhandle With Dead Trees At Boston Marathon, a Chance to Finally Finish Are School Dress Codes Too Strict? Raw: Fatal Ferry Boat Accident Suspicious Bags Found Near Marathon Finish Line Boston Marks the 1st Anniversary of Bombing NYPD Ends Muslim Surveillance Program 8-year-old Boy Gets His Wish: Fly Like Iron Man Sex Offenders Arrested in Slayings of CA Women India's Transgenders Celebrate Historic Ruling Tributes Mark Boston Bombing Anniversary Raw: Kan. Shooting Suspect Faces Judge
Parade
Magazine

Click HERE to read all your Parade favorites including Hollywood Wire, Celebrity interviews and photo galleries, Food recipes and cooking tips, Games and lots more.
Hyperlocal Search
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide