A Gift, Land Purchase And Financing Help To Expand Economic Development Opportunities
A contract for the purchase of 200 acres east of Chillicothe for an Industrial Park was approved by the Chillicothe City Council. The council approved two ordinances and an agreement to pursue financing to make the purchase possible.
The first is a gift of $1.5 million dollars from Chillicothe Development Incorporated (CDI) to assist with the purchase of the 200 acres. City Attorney Robert Cowherd explains
Second, the City approved a purchase agreement with Jerry and Rita Nibarger for the purchase of the 200 acres, east of Chillicothe and adjacent to the proper received in a land swap with the Nibargers. City Administrator Darin Chappell.
The final piece was the approval to move forward on the financing. Joey McLiney from McLiney and Company talked to the Council about the financing they hope to lock-in.
Following the approval to move forward, McLiney added..
The Nibargers and the city are moving to close the purchase before the end of December.