Duke grant supports site development

Thursday, September 7, 2006

Through its Midwest foundation, Duke Energy has awarded the Greencastle/Putnam County Devel-opment Center $8,655 for preparation of subdivision plans and engineering for the development of the Airport Development Site.

The grant is part of more than $70,000 that the foundation has awarded Indiana communities so far this year from its Community Growth Partnership Grant Program which helps communities prepare for economic development projects.

"We have a long history of supporting charitable organizations in the communities we serve, and that tradition continues now that Cinergy/PSI has combined with Duke Energy," said Duke Energy Indiana's President Kay Pashos. "We have joined with a company that shares our values when it comes to community involvement and philanthropy."

The grant will be used to prepare a subdivision plat and supporting engineering documents for such things as sanitary sewer, storm drainage and road improvements to allow for the sale of lots in the Airport Development Site. This property, owned by the Greencastle Redevelopment Commission, will be platted into seven lots to support future business and aviation related development. The property consists of 35 acres along the east side of Ballard Lane. Previously, the Commission constructed a 12 inch water line to serve the site and the Putnam County Airport.

Mayor Nancy Michael noted, "This grant provides another step in making available shovel ready sites for business development." "We greatly appreciate the support of Duke Energy and the company's Midwest foundation in this endeavor."

The local match for the project is being provided by the Greencastle Redevelopment Commission. Previously, the Commission installed a water line to serve this property. The project will be managed by the Greencastle/Putnam County Development Center for the benefit of the community.

"The Redevelopment Commission appreciates the support of Marvin Peters, Duke Energy Manager in Greencastle, for his support with this project," stated Commission president Gwen Morris. "The entire Duke Energy economic development team has been an outstanding supporter and excellent resource for our local economic development efforts."

In 2005, Duke Energy's Midwest foundation provided a grant to undertake similar work at the Sgt. Cunningham site. That site has been subdivided into two lots and engineering work is now complete to provide a road and sanitary sewer line extension to serve the site. Construction of the road and sanitary sewer is expected to begin this Fall.

"The need for ready to go, shovel ready sites, has increased in the last few years," stated Bill Dory, executive director of the Development Center. "The support of Duke Energy has helped us move forward with our local efforts." "At the end of this project all of the sites owned by the City of Greencastle and the Development Center will be considered 'shovel ready,'" noted Dory.

The Greencastle/ Putnam County Development Center serves the county and its communities as the local economic development organization. For 20 years, the organization has encouraged investment, job creation, infrastructure improvements, and quality of life projects to help the county and its communities grow.

The Greencastle Redevelopment Commission manages three economic development areas within the City of Greencastle. The Commission has supported the expansion of the Putnam County Airport, the construction of Capital Drive, infrastructure improvements, improvements to Big Walnut Sports Park, and other projects. Over the next several weeks, the Commission will start work on road construction to open up the Sgt. Cunningham site and will consider construction of an industrial shell building.

Duke Energy is a diversified energy company with a portfolio of natural gas and electric businesses, both regulated and unregulated, and an affiliated real estate company. Duke Energy supplies, delivers, and processes energy for customers in the Americas, including 28,000 megawatts of regulated generating capacity in the United States. Duke Energy's Indiana operations provide 7,200 megawatts of safe, reliable and competitively priced electricity to more than 750,000 electric customers, making it the state's largest electric supplier. Headquartered in Charlotte, North Carolina, Duke Energy is a Fortune 500 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available on the Internet at http:// www.duke-energy.com.

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