In downtown Noblesville . . .
On Aug. 5, the Hamilton County Council is expected to approve the sale of county property on the south side of State Road 32 and east of White River to Republic Development Corporation for construction of a major multi-use development.
The long-discussed transaction will result in a $50 million project built on what is now a county employee parking lot. The site is just short of three acres in size.
The county will be paid $4.55 million for the property. The deal sets in motion another downtown project, a long-sought parking garage.
Photo illustration provided
The planned three-level facility will be built on the north side of Clinton Street between 8th and 9th streets. It will be primarily for county employees but extra space could be used by the public as well as being open on weekends and after working hours.
The cost of about $9.5 million will be paid by proceeds from the sale of the property to Republic plus cash the county has accumulated for such needs.
The county lot on the south side of Clinton Street will remain for parking. And, as part of the overall deal with the city and developers, the county will get title to the parking lot on Logan Street at White River, site of the former National Guard Armory.
County Commissioners have been involved in detailed negotiations for more than a year with Republic and the city of Noblesville, according to Commissioner Steve Dillinger.
Although mum on the Republic project so far, the city sees the construction as a big boost for the downtown area that will create major property tax revenue for local government.
As the fiscal body of the county, the Council must approve the purchase or sale of any county property.
A big deal? “Yes, it really is a big deal with a lot of time and negotiating involved,” Dillinger concluded.