RDC agrees to sell lots to Airport Authority

Friday, April 29, 2016
Banner Graphic/ERIC BERNSEE Two parcels (at left) along Ballard Lane north of the existing hangars at the Greencastle/Putnam County Airport are being sold by the Greencastle Redevelopment Commission to the Putnam County Airport Authority. Totaling approximately 15 acres, the two lots will bring a combined reimbursement amount of $282,211.

A project that's been circling over two local boards for most of 2016 was brought in for a landing Wednesday evening by the Greencastle Redevelopment Commission (RDC).

During its monthly meeting at City Hall, the commission unanimously approved the sale of two vacant parcels -- totaling approximately 15 acres immediately north of the existing hangars at the Greencastle/Putnam County Airport -- to the Board of Aviation Commissioners.

Lots 6 and 7, with frontage along the east side of Ballard Lane, are being sold by the RDC for a total sum of $282,211.

Mayor Bill Dory told the commission the sale of the lots basically has been set up as a land contract that allows the Airport Authority to make equal annual payments of $56,440 for five years before receiving the deed.

The contract, however, will not include a prepayment penalty should the Airport Authority choose to pay off the remainder of the contract early.

The $282,211 total represents the overall investment the Redevelopment Commission has in those properties, from purchase through infrastructure improvements like water lines.

The RDC is selling the lots for their reimbursement value only because the sale is to another unit of government.

It's all tax dollars, Commission member Gary Lemon pointed out in earlier discussion, "just not the same taxpayers."

Lot 6 is a 3.81-acre parcel with 276 feet of frontage that carried a $70,845 price tag reflecting what the Redevelopment Commission had invested in the property and the infrastructure on it.

Meanwhile, the adjacent Lot 7 is an 11.36-acre parcel with 825 feet of frontage. It carried a $211,356 cost as its reimbursable amount.

Dory, formerly the Greencastle/Putnam County Development Center director who worked closely with the Airport Board on the majority of previous projects, has said that "from the very beginning" Lots 6 and 7 were "intended for future development of aviation."

Lot 7 was set up from the start, Dory explained, for eventual purchase by the airport.

Funds resulting from the transaction could then be used on another community project, Dory noted.

Lemon made the motion to approve the sale, which was made unanimous by RDC members Drew Brattain, Gwen Morris and Lottie Barcus. President Erika Gilmore was authorized to sign the contract.

The sale of the two lots, targeted by the Airport Authority for additional hangar development, still leaves five lots and some 20 acres of property under Redevelopment Commission control along Ballard Lane.

Some of those lots, Mayor Dory explained, were set up to be easily combined should a bigger piece of property be needed or requested for potential development.

Originally officials believed such properties would be enticing to small manufacturers, especially aviation-related businesses desiring buildings in the 10,000-square-foot range near the airport.

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