Kokomo Tribune; Kokomo, Indiana

Breaking News

Local News

April 9, 2013

Downtown building to be analyzed

Kokomo could purchase Armstrong-Landon property.

— The Kokomo Common Council gave its approval to an analysis of the Armstrong-Landon property in downtown Kokomo as a possible future economic development property.

Council members voted unanimously Monday to pass a resolution authorizing two independent appraisals of the property and a determination of the condition of the building.

Passage of the resolution authorizes the city to eventually purchase the building.

Located at 105 W. Sycamore St., the building was purchased in 2012 by Bolinger Enterprises from Harris Bank for $200,000. There is about $128,000 in back property taxes owed on the property.

The building has been vacant since 2011 when Harris Bank moved out. The building was sold in 2002 to First National Bank & Trust for $5.3 million.

The proposal also includes two parking lots at 112 Superior St. and South Main Street.

Councilman Tom Miklik said the Kokomo Board of Public Works & Safety would have to negotiate a purchase price if the city decides to move forward with the project.

“Many cities our size and larger get involved in the purchase of real estate to promote downtown development,” Miklik said.

Council President Mike Kennedy said the city has had some inquiries from small business owners interested in the property. He said those business owners can’t afford to purchase the property and can’t use all the space in the six-story building.

“This is a good economic development tool,” he said.

Kennedy said the city purchases residential properties that are rehabilitated and then sold to private individuals.

Miklik said funding for the project would come from the city’s portion of Economic Development Income Tax revenues.

“This will be revenue neutral for the city,” he said.

Resident Jay Noel said the entire proposal is moving pretty fast and more information is needed. He asked who will pay for the appraisals and any work that needs to be done to the building.

Kennedy said someone has to determine the work that needs to be done.

Councilman Bob Hayes said the economic development fund will pay for the appraisal.

“I would like to see something happen,” Noel said, “but at who’s expense?”

Councilwoman Cindy Sanders said people want to see more businesses locate in the downtown area.

“This gives us the ability to have an opportunity to develop the property,” she said.

Mayor Greg Goodnight said last week he doesn’t want the city to own the building in six or eight months.

The property could be turned over to the Kokomo Redevelopment Commission to sell to a buyer or potential developer.

1
Text Only | Photo Reprints
Local News
  • North split restrictions on Monday The Indiana Department of Transportation will restrict traffic at the single-lane ramp that connects U.S. 31 to southbound Ind. 931 on the north side of Kokomo — weather permitting — on Monday between 9 a.m. and 4 p.m. Remedial repairs along the 200-

    April 16, 2014

  • BK rebuild 04 Peru restaurant B-K West rebuilding after tornado

    PERU -- B-K West is more than just a drive-in restaurant to its owner, J.D. Hann. It's a piece of his childhood, a historic Peru landmark, and it's his baby. "I grew up with this place," the 57-year-old Peru native said. "We used to walk the tracks o

    April 16, 2014 7 Photos

  • Congresswoman Susan Brooks backs manufacturing training efforts Congresswoman Susan Brooks' own personal manufacturing experience may have been limited to three months in a Kendallville caramel factory as a college student, but in her congressional roles, she's having an impact on the skills debate. In Kokomo Tue

    April 16, 2014

  • Superintendent of Ind Ed 01 State Superintendent Glenda Ritz visits Peru, discusses new standards

    PERU -- State Superintendent of Public Instruction Glenda Ritz said Tuesday she is comfortable with the quick pace at which new academic standards are moving from concept to classroom. The Indiana Department of Education released a final draft of new

    April 16, 2014 4 Photos

  • Chrysler CEO will headline Tipton plant opening Chrysler CEO Sergio Marchionne will preside over the grand opening of the company's fifth north central Indiana plant, the Tipton Transmission Plant, at a ceremony May 13, company officials announced Tuesday. In February 2013, Chrysler announced it w

    April 16, 2014

  • More than 70 businesses participate in annual job fair More than 70 local businesses got a look at the workforce of tomorrow during Tuesday's Kokomo Area Job Fair at the Ivy Tech Kokomo Event & Conference Center. The event, put on as a partnership between Indiana University Kokomo and Ivy Tech Community

    April 16, 2014

  • Kokomo episode of 'My First Home' airs Saturday A cautious cat-lover will search for the perfect house in Kokomo on Saturday's episode of "My First Home" on TLC. The episode airs at noon and features Kokomo real estate agent Gena Martin and first-time homebuyer Steven Underwood. In its description

    April 16, 2014

  • Easter basket workshop Thursday Generous individuals and businesses in town donated enough candy, games and books to fill more than 500 Easter baskets at this year's Tom Carey Easter Basket Workshop. The workshop starts at 10 a.m. Thursday. Any families that are strapped for cash t

    April 16, 2014

  • IUK to give Chrysler CEO Sergio Marchionne honorary degree Chrysler CEO Sergio Marchionne will be at Indiana University Kokomo’s May 13 commencement to accept an honorary degree from Indiana University President Michael McRobbie, IUK officials announced. In a statement, McRobbie credited Marchionne with engi

    April 15, 2014

  • Cheryl Marner aims to cross finish line during this year's Boston Marathon Cheryl Marner was a mile from the finish line at last year's Boston Marathon when all of the runners in front of her suddenly stopped. The race had come to a halt, and at the time, she didn't know why. "There was a lot of confusion," she said. "I hea

    April 15, 2014

Latest news
Featured Ads
Only on our website
AP Video
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