ELWOOD — Preliminary details for a new business locating in Elwood were presented to the Elwood City Council.
Steve Guetter, executive vice president of Rosen’s, said Monday the company is requesting that the city annex nine acres at the intersection of Ind. 37 and Ind. 28 for the business.
He said the plans are to build a 50,000-square-foot building for the company that distributes agricultural chemicals.
Guetter said there is room for the company to expand in the future with a possible second 50,000-square-foot business at the site.
He said the company is asking Elwood to extend the water and sewer lines to the location.
Guetter said the company will not be requesting a tax abatement from the city for the business and plans to create 12 jobs.
The plan is to have the business in operation by October.
In other business, the council approved the issuance of a $1.4 million bond by the Elwood Redevelopment Commission for the Town Home Square housing project.
The 25-year bond will be repaid by the increased assessed value on the property.
In January the council approved the requested rezoning by Hometown Community Development for 12 properties for the construction of the 16 townhouses.
The company is investing $2.9 million in the development with work expected to start in the spring.
The property is located in the 1000 block of North 9th Street and was previously partially zoned for light industrial use.
The 16 units will all be two-story with three bedrooms, 2 ½ baths and a garage and contain 1,500 square feet.
The projected rent is $1,400 per month.
