Sheldon, Iowa — The Sheldon Chamber and Development Corporation has released the location of a tract of land they’re purchasing as the site of a new business/industrial park.
The approximately 35-acre tract of land is located immediately northeast of the Highway 18 & 60 junction, across the highway from Ziegler Cat and Bomgaars.
Sheldon Development Director Curt Strouth says the land is strategically located, and is a prime spot.
Strouth says having ground available for construction is extremely important for community development.
The purchase price of the land is $1.2-million, and Sheldon City Manager Sean Hutchison says the purchase will be financed, initially, with $800-thousand from SCDC accounts, and $400-thousand coming from the City of Sheldon. The City plans to issue $1.2-million in bonds to reimburse the internal funds of the City and the SCDC, which are used for purchase of the land. Hutchison says the agreement between the City of Sheldon and the SCDC calls for the City to be repaid by the SCDC with funds generated by the sale of lots in that parcel of land.
Strouth says he expects the sale of the land to close in early January.
The tract of land purchased by the City and SCDC is the area shaded in yellow above
Original story posted 11:32 am 10-10-17
Sheldon, Iowa — After last week’s Sheldon City Council meeting we told you that the Council had agreed to help the Sheldon Chamber and Development Corporation finance a 35-acre tract of land for a new commercial/industrial park. The location of that land has now been revealed.
Sheldon Development Director Curt Strouth tells KIWA that the parcel of land is located on the northeast corner of the Highway 18 and 60 Junction, across Highway 18 from Ziegler Cat and Bomgaars.
The land was purchased from D.G. Farm Corporation at a price of $1.2-million. $800-thousand of the purchase price will be paid by the SCDC from their financial accounts, with the remaining $400-thousand coming in loan proceeds from the City.