Published: April 22, 2015
By: Mary Perren, WKVI
North Judson will still have a grocery store thanks to quick
action by the town council. Heartland Markets has signed a letter of intent to
buy Ray’s Super Foods on Lane Street. Company officials also asked the town if
they could offer any incentives. North Judson Clerk-Treasurer Donna Henry
recently spoke with representatives from the State Board of Accounts, who suggested
they could set up a revolving loan fund for economic development projects.
The council on Monday passed an emergency resolution to
formally establish such a fund in accordance with state law with proceeds from
the County Economic Development Income Tax Fund. The town council previously
agreed to loan Heartland Markets up to $50,000 for electrical upgrades to the
building. The town’s attorney is drafting the promissory note for that loan,
which the council will review before it is executed. Starke County Economic
Development Foundation Executive Director Charlie Weaver is also working with
NIPSCO to see what sorts of incentive programs are available to pay for
upgrades to the heating and cooling systems, refrigerators and other items
powered by electricity.
Visit http://www.in.gov/legislative/ic/2004/title5/ar1/ch14.html
to read the state statute that allows the establishment of such a fund.
No comments:
Post a Comment