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Economic director: Wilshaw appraisals complete; town pursuing voluntary agreement but eminent domain remains active
Summary
Economic Director Kyle Markley reported to the Speedway Redevelopment Commission that both independent appraisals for the Wilshaw property have been completed and the town is negotiating with owners to reach a voluntary agreement while the eminent domain process continues under Indiana law.
During his report to the Speedway Redevelopment Commission, Economic Director Kyle Markley provided an update on the Wilshaw property. He said both independent appraisals have been completed, that the town is engaged in negotiations with the property owners to seek a voluntary sale, and that the eminent domain process is also progressing under Indiana law.
"Both independent appraisals have been completed and received," Kyle Markley said. "The town is currently engaged in negotiations with the property owners in hopes of reaching a voluntary agreement. While the eminent domain process continues to move forward as provided under Indiana law, our goal remains to reach a mutually agreeable resolution that would eliminate the need for any further legal proceedings."
Markley said negotiations could take several months and that the town will provide updates to the Town Council and the community as the process proceeds. The commission did not take formal action during the meeting but noted the matter remains active and staff will continue to pursue a voluntary resolution while preserving the town's legal options.
