EDA passes Midway Station sale resolutions
The Woodford Economic Development Authority unanimously approved several resolutions involving land sales at Midway Station during their monthly meeting Friday, Oct. 26.
EDA Chair John Soper said developer Dennis Anderson, who has an option to sell land at Midway Station, has sent the group a notice of his intent to close on lots 33 (Unit 1, section 5) and 38-A (Unit 2), both of which are off McKinney Avenue and less than two acres apiece.
Sales from land at Midway Station go to pay off the outstanding debt there, which is shared by the City of Midway and the county. In return for the option, Anderson pays the interest on the outstanding debt.
Soper said lot 33 was sold for $65,000 per acre, which will bring Anderson $113,000 and the EDA $43,538. Members voted 5 to 0 to approve resolutions to execute both sales and another acknowledging partial assignment of the Anderson option.
After an executive session, the group unanimously authorized Soper to sign off on a development plan for lot 28, which Anderson has under contract with a company that will bring 22 jobs to the industrial park.
After the meeting, Soper said Anderson was scheduled to close on lot 28, a 3.3-acre tract purchased by a company that will hire 10 people, later in the day.
The monthly treasurer’s report showed the principal owed at Midway Station was, as of Oct. 20, $2,637,967.74. The total of liabilities and equity was $2,984,934.17. Anderson’s Sept. 27 interest payment was $6,353.11. Anderson’s option expires at the end of 2019.
The EDA issued $6,247,350 of first mortgage revenue bonds, shared equally among four local banks, in December 2004.
Midway Station storm sewer review
Members were given a letter from HMB Professional Engineers showing the results of an Oct. 1 “limited review” of the storm sewer system at Midway Station that also discussed other maintenance needs. Among the findings in what Soper called a deferred maintenance report:
• Grass and brush between the edge of the concrete gutter and pavement edge needs to be removed.
• All catch basin grates must be cleaned off, several of which are “completely clogged, causing water to pond on the road.”
• Rock, mud and debris in the bottom of the catch basins must be removed. (The letter recommends using fire hydrants to wash out the pipes and basins.)
• Accumulated mud should be cleaned off streets, especially around the bend at the east end of McKinney Avenue.
• A concrete curb and gutter along McKinney Avenue that’s been “undermined and broken” at the entrance to sewer pump station No. 1 needs to be replaced.
• Trees, tall grass and brush in detention basins along the portion of McKinney Avenue that parallels I-65 must be removed.
The letter states that the overall condition of catch basins and storm pipe that can be seen from the ground level looks good and just needs to be cleaned out. “The detention ponds and … grass and bushes that have been allowed to grow up between the pavement and concrete gutter are in poor condition and seem to have had a lack of maintenance since they were installed in 2003,” the letter notes.
The report, which has been forwarded to the City of Midway, does not include an estimate of the clean-up costs. Industry Day
Soper said the 3rd annual Industry Day, which allows high school students an opportunity to tour local industries and learn about job opportunities there, will be March 12. He said he will ask the industries, which include Lakeshore Learning Materials at Midway Station, to contribute $300 apiece to pay for the students’ lunches. An Industry Day for teachers is also planned and will be scheduled later.