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Hearing on proposed $4.1 million bond issue, tax levy is Monday

This screenshot from the county's Geographic Information System map shows the location of the land parcels the city wants to acquire. The highlighted parcel in the upper right is the only one north of State Road 44; the other parcels are directly south of it. For reference, Walmart is the light-colored rectangle in the middle-left of the map.

By JOHN WALKER - jwalker@shelbynews.com

At 6 p.m. Monday, the Shelbyville Redevelopment Commission is due to hold a public hearing on a proposed $4.1 million bond issue and a tax levy to buy development land.

Six parcels make up the nearly 155-acre property to be purchased. The site is on East State Road 44 starting about one-quarter mile beyond Interstate 74.

The land is commonly called the Presbyterian property because the First Presbyterian Church, 124 W. Broadway St., owns most of the parcels and used to own the entire site.

City leaders want to acquire the land to have a site ready to go for economic development projects.

Mayor Tom DeBaun said companies looking at land in the city as a possible location for a business expansion prefer to deal with a single owner.

“When we meet with site selectors, they want properties to be under one ownership,” he said.

Currently, the church owns three of the parcels the city wants to buy, a total of 112.59 acres, according to information on the county’s Geographic Information System (GIS) map. Go to www.co.shelby.in.us and click on the GIS icon.

Krone North America Inc. owns two parcels totaling 40 acres. In 2016, Krone announced plans to move its headquarters from Tennessee to Shelbyville but called off the project.

DeBaun said Krone bought the land directly from the Presbyterian church, not from the city.

However, the city did build a road going into the site and had utility lines installed for the Krone project and in anticipation of additional development at the property.

Besides dealing with only one owner, DeBaun said developers the city has talked with seem to be looking for larger sites.

“What we’re seeing is several projects wanting more than 40 acres,” the mayor said.

The city itself already owns a 10-acre parcel next to the Krone properties; the city bought the land as part of the Krone deal.

One of the parcels to be purchased is a narrow strip of right-of-way on the south side of East State Road 44 that’s owned by the state of Indiana.

The assessed values of the three church parcels total $192,300, according to property records on the county’s GIS map.

Krone’s two properties have an assessed value totaling $69,500, the records show.

The state’s right-of-way has no assessed value listed.

If purchase of the six parcels is approved, that would give the city ownership of a 165-acre development site.

The public hearing held by the Redevelopment Commission on the proposed land purchase is due to begin at 6 p.m. on Monday in City Hall, 44 W. Washington St., second floor.

If approved, the Shelbyville Common Council also would have to meet and vote on issuing bonds for the land purchase.

The council would also have to approve any tax levy needed to pay for the bonds.