Valparaiso's efforts to turn a former industrial building into a community center have taken another step forward.
The city has closed on the former Regal Beloit property on Lafayette Street, according to Development Director George Douglas. "So now, it becomes the real work, in terms of the project and ongoing things, to assess the property and how best we might use it," Douglas told the redevelopment commission Thursday.
He said an environmental consultant continues doing remediation work, and Valpo Parks has hired a consultant to assess how exactly it could be used.
RDC President Rob Thorgren noted that the deal has come a very long way since talks began. He felt Regal Beloit had been trying to strong-arm the city.
"It was always in the best interest of the community to own this building and do something special with it," Thorgren said. "So, I think, not only is the neighborhood going to be excited, but I think the residents are going to be very excited, and we'll no longer have an eyesore."
Additional funding for the project could come from bonds that had been issued for the Valpo Sports & Recreation Campus that's been put on hold. Douglas said the city is also applying for six-million dollars in Lilly Endowment funds set aside to complement the state's READI grant program.
While the city has been working to acquire the Regal Beloit property on Lafayette Street, Lake Cable has taken over the building on Evans Avenue.
