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Commission hears progress report on Kingsbury Industrial Park; JBC Rail payment expected
Summary
MCR Partners reported active rail and development activity at Kingsbury Industrial Park, including an expected $136,950 payment from JBC Rail (pending CSX processing), plans for safety signage, an approved abatement tied to an $88 million project and anticipated Nexus project funding.
The LaPorte County Redevelopment Commission received a progress update April 22 on Kingsbury Industrial Park from Matt Reardon of MCR Partners. Reardon said rail and development activity have accelerated and that, once CSX processes paperwork, JBC Rail will remit $136,950 to reduce the park’s remaining balance.
Reardon said JBC Rail is working toward a partnership with CN, a process that involves substantial procedural steps, and that JBC plans to appear at the commission’s July meeting with a further progress report. The county highway department has begun addressing recommended safety signage around the park, he added.
Reardon noted the commission previously approved an abatement tied to an $88,000,000 project and said additional funding is expected from the Nexus project; he said those funds will be tracked separately from standard TIF revenues.
The update was informational; there was no formal vote related to Kingsbury Industrial Park at the April 22 meeting.
