Written by MARK JAEGER
Wednesday, 14 May 2014 16:02
Agreement on purchase of last parcel in villageâ€™s business park withdrawn because of wetland, timing
It is a classic case of good news/bad news in the Village of Fredonia.
A deal to sell a vacant parcel in the villageâ€™s industrial park has fallen through after months of negotiations.
However, the failed sale does mean the village still has land available to accommodate industrial development.
Horizon Construction and Exploration was on the verge of purchasing a 2.9-acre parcel at 750 S. Milwaukee St.
The company, currently based in Grafton, specializes in exploratory and environmental drilling for construction projects and had hoped to build a 9,264-square-foot building on the lot.
The Village Board had already approved selling the land for $15,000, but the transaction was deferred until a legal description of the parcel could be obtained.
In the interim, officials with Horizon Construction reportedly discovered the site was going to be more difficult to develop that anticipated.
That prompted an e-mail last month from company Vice President Adam Sweet to the village.
â€śAfter serious consideration â€¦ we have decided not to pursue the purchase of the three-acre parcel,â€ť Sweet wrote.
â€śWe came to this conclusion after a number of different complications regarding the project â€” the main reason being the shear financial cost of the site preparation, building and the income tax climate for corporations in this state.â€ť
Even as the Plan Commission was reviewing the proposed building plans, village officials noted that care would have to be taken on the placement of the building because of wetlands on the site.
Timeliness was also a factor in the decision not to build in the village.
Sweet said the company is selling its Grafton building and doubted the Fredonia facility would be completed in time.
â€śI just canâ€™t afford to move my operation twice. We still love Fredonia and have high hopes of moving our business to the Fredonia area, but will not be able to construct new,â€ť he said.
When the land sale was still on the table, village officials said the next challenge would be finding additional land in the community suitable for future industrial development.