County council approves one million in refundable deposit...

Graylin Porter - Reporter

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CLICK HERE AND SKIP TO 1:46:55 to watch Voelker’s presentation and the council’s vote

Last night the Harrison County Council voted 7-0 to provide the Harrison County Economic Development Corporation (HCEDC) with a refundable deposit of over one million dollars . To watch Darrell Voelker’s original presentation for this request, click here.

This money will fund an extension of a natural gas pipeline from Grange Hall Rd to the business park at the Lanesville interchange. An unknown developer and company is interested in building a 250,000 sq ft distribution center at the Lanesville Business Park, but will not consider it unless natural gas is available. Indiana Utilities Corporation will have up to six years to repay the deposit to the HCEDC, with no guarantee it will be paid in full.

At this time Voelker is unable to provide the council or the public with more information on the developer or the company. He states that they have promised 300 jobs and over $20 million in investment. However, there is no specific timeline for either of those promises at this time.

Notably the only question asked by the council was when the money would be required. The council did not ask any questions about the gas line project, specifics about the company and its business, or return/risk tradeoffs for the investment.