Council OKs purchase of land

By Joseph Slacian

The Wabash Business Park could soon be growing.

The Wabash City Council accepted two appraisals for a now-vacant home at 852 N. State Road 13. The home is the last home just south of the 13-24 Drive-in and is currently owned by Pefley Properties LLC. It also approved the purchase of the land in question.

“We want to get it to complete the frontage in the. Business park so the City of Wabash owns all of it,” Mayor Scott Long told Council at its June 24 meeting.

Under state statute, the city must obtain two appraisals of the property, and the offer would be the average of the two appraisals.

One appraisal was for $53,000 and the other was for $32,000. The average of the two is $42,500.

“We can’t pay any more than the average of the two appraisals,” Long told Council

Funding for the purchase would come from the city’s County Economic Development Income Tax fund.

“I think this is a good use of CEDIT dollars,” the mayor said, noting closing fees would likely be minimal.

If purchased, the land in question would eventually be annexed into the city limits. That would extend the city limits to just south of the drive-in on the west side of SR 13. The property on which Troxel Equipment is located on on the east side of the highway also is annexed into the city. The housing subdivision south of Troxel Equipment is not in the city limits, Long said in answer to a question from Council.

Posted on 2019 Jul 02