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Aldermen Question Role of GREDA at Logistics Park Galesburg
What hasn't exactly been the most popular piece of real estate the City of Galesburg has ever been involved with is one they're still behind for now.

During a work session Monday night in order to determine how the city would approach economic development now that the Galesburg City Council has terminated their contract with the Galesburg Regional Economic Development Association, aldermen agreed that efforts to market Logistics Park Galesburg and develop it would still need to continued.

Problem is, GREDA markets the park under a separate contract with the city. And City Manager Dane Bragg says because of how the land for the logistics park was purchased, among other things, getting out of that agreement, if that's what aldermen wanted to do, would take some work. "There's a lot of details in it," Bragg said. "Part of that is we have to have a business district development and redevelopment commission. That's part of the bond covenance. When the bonds were sold, we agreed to do that. So we would need to do some work on that."

City officials say $257,000 has been allocated for GREDA to market Logistics Park Galesburg – and of that, 90-thousand dollars remains to be spent. Bragg says that, and a number of other details, would have to be worked out first.

Aldermen also approved, among other things, of continuing to provide a revolving loan fund.

Of about 11 categories of economic development aldermen were asked to sift through, they only got through two Monday night.
01 06 09 by Newsroom
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