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Sellersburg redevelopment commission authorizes MOU and signal agreement to clear permit for State Road 60 traffic signal
Summary
The commission approved a memorandum of understanding with Hutton Sellersburg that includes a $30,000 prefunded utility/maintenance account and authorized signature for a traffic-signal maintenance agreement with the Indiana Department of Transportation to allow Hutton to receive a permit and begin construction.
The Sellersburg Redevelopment Commission on July 7 approved a memorandum of understanding with Hutton Sellersburg, Indiana SD LLC that will prefund a $30,000 utility and maintenance account and clear the way for a traffic signal permit at the intersection of State Road 60 and Applegate Lane.
The MOU, as described to the commission, is an amendment to a previously approved economic development agreement for a Wawa development. Under that earlier deal the total committed infrastructure reimbursement was $200,000 — with $150,000 from TIF funds and $50,000 from the adjacent developer, Platform Real Estate. The newly proposed MOU would add the $30,000 prefund to cover early utility and approach maintenance costs and reduce the town’s exposure during signal start-up.
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