Kokomo Tribune; Kokomo, Indiana

Local News

October 29, 2013

Building transfer gets OK

Work on parking garage to start in November.

The next step in the transfer of ownership of the Armstrong-Landon building to First Farmers Bank & Trust was approved by the Kokomo Redevelopment Commission.

Commission members Monday accepted terms of the move from the city of Kokomo and transferred the six-story building to the not-for-profit Community Development Corp.

Lawrence McCormack, Kokomo city attorney, said the sale of the building to First Farmers Bank & Trust should take place in early November.

The bank is purchasing the building from the Community Development Corp. for $300,000, McCormack said.

McCormack said the city has been working with First Farmers, Ivy Tech Community College and another potential retail outlet for the first floor of the building.

Ivy Tech is leasing the third and fourth floors of the building for $10 per year for 15 years.

In June, the city purchased the building from Bolinger Enterprises for $395,000, which included a parking lot behind the Armstrong-Landon building and a parking lot across from Superior Street.

The building has been vacant since 2011, when the Harris Bank moved out.

Garage is a go

Redevelopment Commission members approved an agreement for the proposed four-story parking garage and apartment complex on the west side of Union Street, between Walnut and Sycamore streets.

McCormack said the parking garage will cost between $8 million and $9 million, and a private developer is investing $4 million for a 35-unit apartment complex on a fifth floor of the structure.

There will be 35 apartment units including 16 lofts, 10 two-bedroom and nine one-bedroom apartments.

McCormack said the parking garage will consist of 396 spaces, with 43 reserved for the apartments.

He said the city will finance the construction of the parking garage through a mix of cash and bonds. McCormack said the city is looking at a 5-year bond.

McCormack said the city will issue the bonds for the apartment complex, and once the developer has equity in the complex, will refinance the bonds.

Text Only | Photo Reprints
Local News
  • Ivy Tech job fair Jobs for the future With an aging workforce, Duke Energy Corp. finds itself in a precarious position.The primary electrical power provider for Kokomo and adjacent counties, Duke Energy is the first line of defense when residents are left in the dark after storms and oth

    July 23, 2014 1 Photo

  • Indian Heights fire 01 [Duplicate] Fire engulfs Indian Heights home

    Josh Justice left his house and went to get a haircut Tuesday afternoon. When he came back, his house was destroyed. Firefighters said it was likely a propane-tank explosion inside an RV parked beside his house that caused severe fire damage to Justi

    July 22, 2014 2 Photos

  • NWS - KT072314 - Kareen Dunn Kareen Dunn sentenced to 18 years for non-fatal shooting A Kokomo man charged in a 2012 shooting on East Mulberry Street pleaded guilty to an aggravated battery charge and was sentenced last week to 18 years. After accepting the guilty plea of Kareen Dunn, Howard Superior Court 4 Judge George Hopkins sente

    July 22, 2014 1 Photo

  • Indiana Veterans Hall of Fame seeks nominations INDIANAPOLIS (AP) — A new hall of fame for Indiana military veterans is seeking nominations for its first class of inductees. The Indiana Military Veterans Hall of Fame says it expects to induct the first honorees around Veterans Day at Fort Benjamin

    July 23, 2014

  • Lawmakers approve pair of new license plates INDIANAPOLIS (AP) — A panel of state lawmakers approved new license plates recognizing the Indy 500 and Abraham Lincoln under a new system clamping down on the number of special license plates on the road. Members of the Legislature's transportation

    July 23, 2014

  • NWS - KT072214 - Ryan Ledbetter mugshot - CLG Bunker Hill councilman Ryan Ledbetter arrested for firing gun BUNKER HILL — A member of the Bunker Hill Town Council was arrested Saturday after police say he broke a no-contact order with his children’s mother and fired a gun inside a trailer park near Peru.Indiana State Police responded to the Woodland Hill t

    July 23, 2014 1 Photo

  • Apollo 11 program at library Kokomo High School graduates Greg McCauley and Dave Hudson will present a 60-minute, graphic-rich multimedia lecture called Earth to the Moon: Celebrating the 45th Anniversary of Apollo 11 from 6:30 to 7:30 p.m. Wednesday. The lecture will be at the

    July 22, 2014

  • Main street group announces meeting TIPTON —- Tipton Main Street Association will meet at 8 a.m. July 24 at the Tipton County Foundation for a presentation on final qualifications needed to become a "main street association." Included are goals and cost estimates for the remainder of 2

    July 22, 2014

  • Howard County rejected for state preschool pilot Howard County is not among the five counties selected for Indiana’s new preschool voucher pilot. Gov. Mike Pence announced Tuesday that Allen, Jackson, Lake, Marion and Vanderburgh counties will roll out the program in 2015. Eighteen counties, includ

    July 22, 2014

  • Police: Peru man punched officer in the face

    PERU — A 51-year-old Peru man was arrested after allegedly flipping off a police officer and punching him in the nose. According to court documents released Tuesday, Peru Officer Matthew Feller was on patrol Friday when he observed Matt Shuey lean out his car

    July 22, 2014

Latest news
Featured Ads
Only on our website
AP Video
Disabled Veterans Memorial Nearing Completion Last Mass Lynching in U.S. Remains Unsolved Home-sharing Programs Help Seniors Ex-NYC Mayor: US Should Allow Flights to Israel Clinton: "AIDS-Free Generation Within Our Reach" Judge Ponders Overturning Colo. Gay Marriage Ban Airlines Halt Travel to Israel Amid Violence NYPD Chief Calls for 'use of Force' Retraining VA Nominee McDonald Goes Before Congress Bush: Don't Worry, Sugarland Isn't Breaking Up US Official: Most Migrant Children to Be Removed Police Probing Brooklyn Bridge Flag Switch CDC Head Concerned About a Post-antibiotic Era Raw: First Lady Says `Drink Up' More Water Courts Conflicted Over Healthcare Law Holder Urges Bipartisanship on Immigration Raw: Truck, Train Crash Leads to Fireball US Airlines Cancel Israel Flights Obama Signs Workforce Training Law Crash Victims' Remains Reach Ukraine-held City
Parade
Magazine

Click HERE to read all your Parade favorites including Hollywood Wire, Celebrity interviews and photo galleries, Food recipes and cooking tips, Games and lots more.
Obituaries