Donovan Estridge, Madison Courier Staff Writer
The Madison Redevelopment Commission agreed Monday to sell land at Hutchinson Lane and Wilson Avenue to Arvin Sango Inc. for expansion of its Madison plant.
Redevelopment commissioners were scheduled to open bids for the land, but as their meeting began, no bids had been submitted. By the end of the meeting, however, Arvin Sango had faxed a bid for $415,000.
The price, according to City Attorney Rob Barlow, was just over what the city was expecting for the property.
"Hopefully this is one step closer to getting a plant," Mayor Al Huntington said after the bid was accepted.
To comply with the bid specifications for the sale of the land, Arvin Sango must build a manufacturing plant with at least 180,000 square feet and eventually employ up to 100 people.
"We are hoping to encourage manufacturing and create job growth," Barlow said in an interview earlier this month.
Barlow and Huntington hope that Arvin Sango will make an announcement in the near future about a possible expansion.
The Redevelopment Commission also voted to recommend to the City Council that the proposed industrial park at Hutchinson Lane and Shun Pike be included in the city's tax increment financing zone.
The city and Jefferson County received a $500,000 grant from the City of Lawrenceburg to buy land for the industrial park. After an initial controversy, county officials approved an interlocal agreement that allows the city to designate the land as part of the TIF zone.
One of the issues was the need to continue using TIF funds to finance the industrial park. After learning that TIF funds could not be used on the property unless it was within the zone, County Commissioner Gregg Sinders changed his position and urged the county to pass the interlocal agreement.
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