RICHMOND — The Midwest Industrial Park will soon grow by 326 acres.
The Economic Development Corporation of Wayne County board of directors voted Friday during a special meeting to exercise an option and purchase 326 acres of land from Toschlog Family Farms for $13,750 per acre. The land is in two neighboring tracts south of Gaar Jackson Road that are separated by Round Barn Road.
The city of Richmond will purchase 166.09 acres east of Round Barn for $2,283,737.50. Beth Fields, the city's director for strategic initiatives, told EDC board members that the city will utilize a bond for the purchase.
Wayne County government will purchase 160 acres west of Round Barn for an even $2.2 million. Commissioner Mary Anne Butters said the funds would come from the county's Economic Development Income Tax balance.
Sarah Mitchell, the EDC's economic development manager, said a two-year purchase option took effect July 23, 2019, and a one-year extension was negotiated effective July 23, 2021. Notification of the purchases is required at least 60 days prior to the option's July 22 expiration.
The new land will be the Midwest Industrial Park's third phase and will require a road project expected to cost more than $5 million and a three-phase sewer project. The Midwest Industrial Park's first two phases consist of 218.3 acres owned by the city, with the EDC facilitating purchases of the park's land.