Elwood, CED seeking $500,000 from county for business park

Ken de la Bastide, The Herald Bulletin, Anderson, Ind.
·2 min read

May 7—ANDERSON — The City of Elwood and the Corporation for Economic Development is requesting $500,000 from the former wind farm account for an economic development project.

The Madison County Council used $400,000 of the wind farm money in 2018 to pay outstanding bills.

Rob Sparks, CEO of the Corporation for Economic Development, made the request Tuesday to the Madison County Board of Commissioners.

Sparks said the plan is to open a business park in Elwood and construct a "spec" building in an effort to attract a developer.

"This is the first step in the process," he said. "We know the money is not there, but want $500,000 moved to the Elwood Redevelopment Commission."

Elwood Mayor Todd Jones said Wednesday the city is looking at several sites for the development of a business park.

"Once the funding is secure we will determine an exact site," Jones said. "We want the funds dedicated to Elwood."

Jones said the city is looking at constructing a 50,000-square-foot building and would seek a state grant to help pay a portion of the costs.

He said since 2020 the county has received approximately 175 leads for companies interested in locating in the county.

"All our available industrial buildings are occupied or closed," Jones said. "We have nothing to offer a company wanting to come to Elwood."

The Madison County Council in 2018 dipped into wind farm funds set aside for economic development.

Faced with an end-of-the-year operating balance of approximately $500,000 before the fall property tax settlement, the County Council transferred $400,000 from the wind farm economic development account to pay outstanding bills.

Madison County attorney Jeff Graham said the county council would have to appropriate the funding.

The commissioners previously passed a resolution for the use of the wind farm money to be used in northern Madison County.

Graham said that resolution would have to be amended or a new resolution adopted.

For the past decade, the county's Board of Commissioners has resisted using the economic development funds from the wind farm to pay for county operating expenses.

When the Wild Cat Wind Farm was approved, the company provided Madison County with $1.3 million for economic development. The commissioners in 2011 set aside those funds for the northern part of the county.

The city of Alexandria was provided with $300,000 for infrastructure improvements.

At one time, the city of Elwood requested $1 million for the Hinds Career Center to include a robotics training program. That funding request was never approved.

Council President Anthony Emery in 2018 said the $400,000 could be replenished for the project when a viable plan is presented.

Follow Ken de la Bastide on Twitter @KendelaBastide, or call 765-640-4863.