River Ridge seeking improvements

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November 16, 2009

Current lessees look to refurbish buildings

By BRADEN LAMMERS The News and Tribune Mon Nov 16, 2009, 09:32 PM EST

Improvements continue to be the driving force at the River Ridge Commerce Center.

At its regular board meeting, River Ridge Development Authority heard two requests to refurbish existing buildings and a possible expansion of water improvements on the south end of the complex.

One request was made by Nu Yale Cleaners — and passed in the form of a resolution — that it would purchase the facility it leases. Included in the resolution was a provision, contingent upon the purchase, that Nu Yale would make significant improvements to the building so that it would conform with the development authority’s “standard.”

Nu Yale’s cost to purchase the facility is $318,000 and includes about 5.7 acres. The benefit to River Ridge is it would get back about 2 acres of property near the front of the complex, which Nu Yale rents, and River Ridge would no longer have liability for the property.

The conditions of the sale must be finalized.

A second request made at the board meeting was the purchase of about 3 acres of land and renovation of an office building by Mister “P” Express Inc. Mister “P” is a contract-shipping carrier employing nearly 200 employees and with $10 million in annual payroll.

Originally an agreement was in place that Mister “P” would build a new office facility, said Jerry Acy, executive director for River Ridge.

“Upon completion of that new construction, then River Ridge would be obligated to demolish the old facility,” he said.

The demolition costs expected to be incurred by River Ridge were between $40,000 and $50,000.

The new plan to renovate the existing building could begin as early as spring, while the construction of a new office would not have begun until 2012. Renovation plans would total about $2 million, with the first phase of the project totaling $500,000.

Phase one would renovate the interior, make aesthetic changes to the facade of the office, redesign the landscaping and could be completed within 90 to 120 days of its start date. Phase two of the project would purchase 3 acres to the north of the current site. Purchase of the land would allow the company to build a new maintenance facility, costing an estimated $1.5 million.

However, part of the additional 3 acres has been designated as a detention area for water runoff, but Mister “P” would incur the cost to improve the land and change any drainage and sewer lines going through the property.

The second phase start and completion date is more contingent on the reinvigoration of the economy.

“As soon as the economy picks up, the second phase — had we purchased the property — we would commence on it,” said Allan Parnell, chief executive officer of Mister “P.” “I don’t know what the timetable would be. It’s economics for the second phase.”

The timetable for approval is a little more definite, although the board did not approve the proposed resolution at Monday’s meeting.

“We need to work all this out. I don’t think we can work it out tonight,” said Norman “Ned” Pfau, River Ridge board member. “Most certainly within 30 days, this thing ought to be just laid out and done.”

The resolution for the agreement — as well as a full plan for renovation — is likely to be heard at the next board meeting.

Another possible project will start in the form of a follow-up meeting scheduled with John Davis, deputy director with the Indiana Department of Natural Resources, to discuss the possibility of extending water improvements. Davis met with the board in October seeking its approval to try for State Revolving Fund money to make improvements through the construction of new wells — which is currently in a public comment stage — a treatment facility and the extension of water lines.

The next phase of water improvements would extend to the south end of the River Ridge complex and to businesses already located there.

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