Valpo agrees to finance road for business park

2013-09-19T20:45:00Z 2013-09-19T22:31:09Z Valpo agrees to finance road for business parkBy Phil Wieland phil.wieland@nwi.com, (219) 548-4352 nwitimes.com
September 19, 2013 8:45 pm  • 

VALPARAISO | The city and developer Don Weiss have agreed to a plan for Valparaiso to pay for a road to serve the business park portion of Weiss' development between Evans Avenue and Vale Park Road.

At Thursday's meeting of the city's Redevelopment Commission, the commission voted 4-1 to spend up to $2.5 million to construct a two-lane road to serve the northern segment of the project. A two-lane road through the apartment portion will be paid for by Weiss.

City Administrator Bill Oeding said the agreement was reached Thursday. Commission Member Dave Smith cast the sole vote against the proposal saying he just didn't have enough information to make a decision.

Oeding said Valparaiso has discussed for many years the need for a four-lane road running all the way from LaPorte Avenue at the entrance to Porter's Vale Shopping Center north to Burlington Beach Road.

One solution would have been to widen Bartz Road to four lanes, but that would involve buying up the land needed for the project. Weiss is donating the land and will put in the road next year. The commission will reimburse him a maximum of $2.5 million for the business park portion.

The money probably will come from a bond issue paid off with the commission's tax increment financing revenue. Oeding said, if it is decided to widen the road to four lanes in the future, the city will pay for it. The total cost of the four-lane road through Weiss' property is expected to be $6 million.

The details of the agreement still are being finalized, but the city expects to present it to its Board of Public Works and Safety for final approval Sept. 27. The property is on the east border of Pine Creek subdivision and the east side of Ind. 49.

The development covers about 150 acres, about 30 of which still have to be annexed to the city so the road can be completed. About half the development will contain 408 luxury apartment and the business park will have about 37 lots.

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