The city is now in the process of building the (wetland) mitigation ponds, creating the master plan and developing the marketing program that it hopes will attract the industrial park's largest company to date.

The 125-acre first phase of the park is about two-thirds full, with companies having acquired 80 acres of land. With the expanded territory, the city is now said to be courting a company that would take more than 100 acres, though negotiations are preliminary at this point.

To accommodate the needs of a company, the city says a corps wetland fill permit would allow construction to begin this spring and move forward concurrently with the required wetland mitigation projects. The price of the land is reportedly negotiable based on the benefits the employer would bring the city and its residents, mostly in the form of taxes and jobs.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.