Kokomo Tribune; Kokomo, Indiana

Local News

November 27, 2013

City inks Firestone building deal

Developer hopes to lure office and retail tenants to downtown.

(Continued)

The building was donated to the Kokomo Redevelopment Commission, which approved the transfer of the property to the city’s Community Development Corp.

Prior to that, the city owned the building after receiving it from STAR Bank for a $10 fee in 2009.

The CDC is working to put together a deed to transfer the building to KipCor with restrictions, Kokomo Director of Operations Randy McKay said.

“KipCor is moving forward with it and working with the CDC on this,” McKay said. “We should begin to see renovations in the next three to four weeks.”

While it remains unclear exactly what type of businesses the building will attract, Broughton said he has received two verbal commitments from customers looking to inhabit the building’s second floor office space. He hopes to finalize contracts with those businesses in the next week and is confident KipCor will be able to bring more tenants on board in the near future.

In addition to a gourmet grocer, Broughton said other prospective businesses might include a coffee or bagel shop or a frozen yogurt store on the building’s ground floor.

In the meantime, KipCor is moving forward with renovations to the building’s façade and awning to restore a “1920s” look. The interior of the second floor will be “white-walled” with a concentration on renovating the lobby area and atrium leading up to the second floor.

Broughton, who owns properties in 32 states, said KipCor was established to hold properties, but he also owns properties under different investment groups while working out of California.

Indiana, and the Kokomo area in particular, was an attractive option for Broughton and KipCor because of the city’s low unemployment rate and its median income.

“One of the most exciting things about Kokomo is there are 10,000 people commuting in the market every day,” Broughton said. “Those are customers to me.”

Text Only | Photo Reprints
Local News
  • City-Line Trolley 04 Riders see numerous benefits to City-Line Trolleys As Sharon Sanchez waits for the Red Line trolley to take her to work at Steak N’ Shake on South Reed Road, she can’t imagine her life without the busing system. Sanchez rides the bus to work from downtown to the south part of town and to events at Ch

    August 21, 2014 3 Photos

  • City-Line Trolley 03 City Line Trolley ridership up 31 percent Any questions about the demand for public transportation in Kokomo have been answered since the city expanded its routes for the City Line Trolley last July. The bus service has seen its passenger totals increase 31 percent since it added three new l

    August 21, 2014 1 Photo

  • Crash One injured in two-vehicle crash on Ohio Street

    A 42-year-old woman suffered multiple injuries Thursday afternoon after the van she was driving was struck head-on by a Jeep on North Ohio Street.

    August 21, 2014 2 Photos

  • Sobriety checkpoints planned for Friday in Kokomo The Howard County Sheriff Department announced deputies will conduct a multi-jurisdictional enforcement checkpoint targeting impaired drivers in Howard County Friday. Officers from the Kokomo Police Department and troopers from the Indiana State Poli

    August 21, 2014

  • VFW commander injured in motorcycle accident Post commander of the Veterans of Foreign Wars Post 1152 suffered head and other injuries when he crashed his motorcycle Wednesday evening on East Lincoln Road. A Kokomo Police Department accident report stated that Kenneth A. Fisher, 67, was riding

    August 21, 2014

  • Robert Lee Rev. Robert A. Lee’s candidacy once again challenged For the second time, Rev. Robert A. Lee’s candidacy for Center Township Trustee is being challenged in what Howard County Democratic Chair David Tharp has described as an act of “singling out” the retired pastor. Lee’s candidacy for township trustee

    August 21, 2014 1 Photo

  • IU grad wins $100,000 technology startup prize BLOOMINGTON, Ind. (AP) — A recent Indiana University graduate has won a $100,000 technology prize that will finance his new startup company devoted to improving hearing aids and prosthetics. Gregory Mattes graduated this year from IU's Kelley School

    August 21, 2014

  • NWS - KT082114 - Banks Additional charges filed against attempted murder suspect A 17-year-old facing attempted murder charges in connection with a Tuesday shooting incident now also faces charges of criminal recklessness and pointing a firearm.Kokomo police were called to the city’s northeast side on a report of shots fired Tues

    August 21, 2014 1 Photo

  • Jenkins card Greatest Save brings Major Leaguers to Kokomo Community First Bank Executive Vice President Bob Hickman saw first hand the great benefits and excitement the Greatest Save program brought to the community of Evansville the last two years. He watched as Major League Baseball legends like Rollie Fi

    August 21, 2014 3 Photos

  • Buddy Bags starts gearing up

    Every kid who goes to school gets at least one square meal a day. For some kids, that’s the only good meal they’ll get.And when the weekend rolls around, children living in poverty may not be eating at all.“We knew that some kids were eating school

    August 21, 2014

Latest news
Featured Ads
Only on our website
AP Video
US: We Do Not Pay Ransom to Terrorists Ferguson Teachers Training to Deal With Trauma Jon Hamm on the Unrest in Ferguson Tit for Tat? McDonald's Shuttered in Moscow Life on the Professional Video Game Circuit TX Gov Perry in Washington: 'Confident' in Case Hospital Releases Two Missionaries Who Had Ebola Ramen Health Risks: The Dark Side of the Noodle NYC Doctor-in-chief Seeks Community Approach Indonesian Police Fire Tear Gas at Protesters Raw: Shots Fired in Liberian Shantytown DOJ, Bank of America Reach Record Settlement Raw: Cubavision Airs Images of Fidel Castro Raw: Grief After Deadly Airstrikes in Gaza Officer Who Pointed Gun at Protesters Suspended Kathy Griffin Challenges Minaj to 'a Booty Off' Johnson: Six Arrests, No Tear Gas in Ferguson Raw: Rescue, Relief Efforts at Japan Landslide Cadavers, a Teen, and a Medical School Dream California Drought Stings Honeybees, Beekeepers
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