Outgoing Mayor Graham Richard announced his administration will not exercise the purchase option of the OmniSource property by the December 31 deadline. The City cited several reasons for this decision, many previously discussed in this space. From the Journal Gazette this morning:
“The land, northwest of Clinton and Fourth streets, has been the subject of much study and citizen input, and a consensus has emerged for a mixed-use development with significant public spaces. But much remains to be settled, including:
Money. Like Harrison Square, the development will most likely involve both public and private money. But with Harrison Square, the developers were known and were ready to invest. No private developers ready to put money into the North River project have been identified.
Environmental issues. The property is the former site of an industrial scrap yard, and at least some environmental cleanup is likely. The city continues to study the extent of the cleanup necessary and has yet to tell the public what the studies have found so far. Any cleanup will have to be part of the purchase agreement.
Price tag. The city needs to seek an appraisal for the land to determine whether the $4.3 million price is fair.
Calhoun Street. Planners hope to extend Calhoun Street north to State Boulevard, with an accompanying 2-foot-wide strip of water beside the street. This is a huge, complicated project, and its need should be explored further before the city buys the land.
Richard earlier said he was seeking to buy the land before his term winds up Dec. 31, but the project lacks the urgency of Harrison Square, which had very real deadlines.
The city spent $25,000 for an option to buy the North River land by Dec. 31, an amount that, by agreement, would be applied to the purchase price. The city should seek an extension.”
It’s nice to see the JG editorial staff finally address the concerns shared by many in the community. Fort Wayne taxpayers (and Mayor Richard’s legacy) dodged a bullet on this one. Renewing or extending the option is a good move. Thank you Mr. Richard.
