MOUNT VERNON — CEO Dennis Eggerton gained what he said he needed most in relation to the sale of the New Hope Industries site: time.
In Thursday’s morning session, the county commissioners extended the vacate date from Dec. 1 to April 15, 2020. Commissioner Thom Collier told Knox Pages on Friday morning that the commissioners felt the extension was a good compromise and took New Hope to the end of its lease.
“Had there actually been a lease in place, April 15 would have been the ending date,” he said. “We certainly want to work with them in needing more time.
“We also had a good report from Jeff Gottke that he’s had some success with working with other locations for them for some potential space for them to lease. We think that [extension] will still allow us to get the property sold and give them more time to locate and move to a new facility.”
Gottke is the vice president of the Area Development Foundation and president of the Knox County Land Bank.
“We are thankful for that,” Eggerton said of the four-month extension. “We were hoping to have a little bit more, but now we are focusing on the building and trying to get on with the renovations.”
Eggerton, Gottke, and New Hope Assistant CEO Angie Wise visited the Siemens campus last week. Gottke said he thought the visit went well.
“Siemens is willing — as with anyone — to basically build to suit, so if that means helping build restrooms and showers, they’re willing to accommodate whatever New Hope would need,” said Gottke.
“All of the places we’ve looked at are a possibility,” said Eggerton when asked about the Siemens visit.
As to a deadline for making a decision on a new location based on the April 15, 2020, vacate date, he said, “Yes, we have a specific deadline. It’s called as soon as possible.
“We are focused on the future. It won’t help to focus on the past. We’re moving on so we can provide the best services we can.”
In Thursday’s session, the commissioners formally approved the Land Bank to act on behalf of the county in marketing and selling the New Hope site, a six-acre parcel located at 1375 Newark Road. Gottke said the only thing that will change on the sale timeline is the vacate date.
“We have a 30-day marketing period starting from yesterday. We have 150 days to close,” he said. “We will set up a series of open houses for interested purchasers to view the New Hope site.”
Proposals from interested buyers are due by Aug. 16. ADF staff will review the applications and make a recommendation to the Land Bank board.
“We added some economic questions to our application so that we can get a better idea of how the potential purchaser will benefit the county economy,” said Gottke.
The board of the Land Bank will choose the buyer by Aug. 30. Closing of sale must be completed by Dec. 13.
The auditor’s website values the property at $576,780. A formal appraisal has been ordered and must be completed by July 31. The appraisal will determine the base sale price.
If the property sells at the base sale price, the Lank Bank will receive 10% for its role in marketing and selling the property. If the property sells above the base sale price, the Land Bank will receive 10% of the total sale. In both cases, the remaining money goes to Knox County DD.
Knox County DD bought the property in 1987. Because DD boards are not allowed to own land under the Ohio Revised Code, the property is in the county’s name. The county leases the site to Knox DD. For the past 12 years, Knox DD has leased the parcel to New Hope Industries for $1 a year. Both leases expired in the past year.
