After failing to meet in 2012, the Vandalia Industrial Development Authority enjoyed a time of reconnecting while being grateful for the opportunity to help a Vandalia business.
The board heard a presentation from Vandalia City Administrator Alan Winders in regards to property adjacent to Chad Wallace’s Pioneer business on Industrial Dr.
The board granted Wallace’s request to use the land between the drainage ditch and his building through a lease with the option to purchase agreement.
This would give him a better access for trucks.
The one year cost is $500/acre per year and the property in question is one acre.
There are no new water or sewer charges to kick in due to the measure.
Price of the property will be determined by an appraiser approved by the board.
The initiative is not a brokered deal as there is no commission involved.
“If (the property) was not divided by a creek, I’d have a hard time recommending this,” Winders told the board.
Winders went on to say the move offered fair market rent and an exciting chance to help a local business.
There are still 14 acres remaining in the industrial complex. It was noted that the creek splits the one acre from the other 14 acres to where the lease of the land won’t affect a future business’ use of the complex.