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| Lots 24, 25, 26 and 27 were prepared for sale by EDA at its meeting Tuesday. (For a larger image, click on it.) |
The EDA board approved a letter of intent to sell two lots to CSI, which makes auto parts robotics for the auto industry, and a purchase contract for two with Dever Inc., which sells and rents golf-cart fleets.
"CSI is a hi-tech manufacturer for the automobile industry which will bring 40 high-paying jobs and will take Lots 24 and 25," Mayor Grayson Vandegrift said in an email to the City Council after the meeting. He said Dever will buy Lots 26 and 27 and "bring roughly 30 more jobs to town."
EDA Chair Michael Michalisin of Midway said the sales, after real-estate commissions, would generate $845,000, about $688,000 of which would go toward reducing the mortgage on the industrial and commercial park, with EDA keeping the remaining $157,000.
Vandegrift said the sales would reduce the debt on the property by about a third. "This is a big day for a number of reasons," he wrote. "This marks the beginning of a shift to a new phase, as these are the last remaining industrial lots in Midway Station not currently under contract."
Lot 30 is under option with Barnhill Chimney, and Lots 29 and 31 are in the process of being sold to Creech Inc., which collects muck from horse farms and ships it to mushroom farms in Tennessee.
Vandegrift noted that 130 acres of north of Midway Station is zoned industrial, "but this is a very nice turning point for the history of our industrial park. Both of these new companies are relocating from Lexington, and while they are not done deals just yet, they’re moving along very quickly and I am confident they will both get across the finish line. We could all use good news right now, and I’m very excited about both of these new companies."
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