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Redevelopment commission approves up to $150,000 to buy downtown parcels; demolition steps to follow
Summary
The Logansport Redevelopment Commission approved a resolution to buy properties at 41 East Marcus Street and 10 Melbourne Avenue for up to $150,000 and cleared initial steps toward possible demolition of a deteriorated factory on the site; asbestos testing, a second appraisal and permitting were discussed as next steps.
The Logansport Redevelopment Commission on April 22 approved a resolution authorizing use of TIF funds to purchase two downtown parcels at 41 East Marcus Street and 10 Melbourne Avenue for a not-to-exceed total of $150,000.
Bill Cutter, a staff member who presented the proposal, told commissioners the $150,000 allocation breaks down as $100,000 payable to Tom Worst and $50,000 to Worst Incorporated, with up to $7,000 available for two certified appraisals and payment of delinquent property taxes as described in the resolution. The resolution also authorizes use of downtown and consolidated TIF funds for certain related expenses.
The move follows negotiations on a prior asking price the sellers had presented to the mayor’s office; Cutter said the parties negotiated the figure down from $300,000 to $150,000. Cutter emphasized that the current approval covers acquisition steps and not demolition: "Today's request does not involve demolition," he said, and added the city would need asbestos testing and a state demolition permit before taking down structures.
Commissioners discussed next steps if the purchase proceeds. Cutter said he expects to require a second appraisal, to have Malcolm (commission member) review phase‑I environmental reports already submitted for the three parcels, and then to schedule title work and closing. He recommended ordering an asbestos survey early so demolition permitting can proceed more quickly if the acquisition and environmental reviews support that path.
Commissioners also noted practical constraints attached to demolition. Cutter and others flagged possible DNR and river‑proximity complications and cited previously received demolition estimates ranging roughly from $151,000 to $171,000 for the factory on the riverfront. Several speakers said those environmental and site constraints make bids and permitting more time‑consuming and may require separate funding later.
A motion to accept Resolution 2025‑332, authorizing use of TIF dollars for the purchase and associated costs as described, was moved and seconded. The roll call was taken by voice; commissioners voted in favor and the motion passed.
The commission did not allocate demolition funds at the meeting. Cutter said that if the phase‑I review and the second appraisal are satisfactory, staff would return with requests for asbestos testing and any demolition funding required by the permits and contractor estimates.
The commission’s packet identifies the following funding authorities and conditions in the approved resolution: a purchase not to exceed $150,000 (split to the sellers as above), appraisal expenses up to $7,000, and authority to use up to $668,600 from the downtown TIF and $138,400 from the consolidated TIF for expenses listed in the resolution.
