Redevelopment Commission Accepts Louisville Developer’s Offer For W. Harrison Spec Building

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(West Harrison, Ind.) – A developer has plans to construct a $10 million warehouse in West Harrison, a move that could finally land a major employer in the county’s TIF district there.

The Dearborn County Redevelopment Commission on Friday morning accepted a bid from Louisville-based CrossPath Group to build a roughly 320,000 square foot speculative building in the West Harrison tax increment financing (TIF) district on Harrison-Brookville Road, according to One Dearborn president and CEO Terri Randall.

CrossPath was the lone bidder for the redevelopment commission’s request for proposals put out last month. The offer was submitted by the company’s president, Lee Wilburn.

“The Dearborn County Redevelopment Commission voted to accept the proposal, as submitted, and give One Dearborn and the board attorney permission to negotiate and prepare an Economic Development Agreement, Purchase Agreement, and an agreement to allow access to the property to begin due diligence prior to land closing,” said Randall, leader of the county’s local economic development organization.

The development proposal details the plan for the 19.5 acres of land next to Hirlinger Chevrolet. CrossPath Group would purchase the property from the redevelopment commission at a price of $31,671 per acre, the average of two appraisals performed.

The warehouse would be built using private dollars. The offer states that construction would begin within six months of the deal being closed, barring a mutually-agreed extension.

That speculative building would be owned by CrossPath and serve as a ready-to-go facility for a business looking to expand or relocate, bringing new tax base and jobs to Dearborn County.

Source: eaglecountryonline.com