The Town Board voted Wednesday to sell the abandoned Electruk Battery Co. building in the town industrial park to a Wilson company for $10,000.
Moley Magnetics, whose Shadigee Road plant was heavily damaged in a June 22 fire, will move in within 60 to 90 days, according to Ronald Slaby, the company's director of sales and marketing.
Electruk went out of business a year after a January 1995 fire triggered by a spill of sulfuric acid left the building contaminated.
Town Attorney Daniel E. Seaman said the town spent about $30,000 toward a brownfield cleanup directed by the state Department of Environmental Conservation. The cleanup was declared complete in 2009.
Niagara County took ownership of the building because of unpaid property taxes, and in the last 30 days obtained a court order that transferred the title to the town.
David R. Kinyon, town economic development coordinator, said the deal came together in the last two weeks. A special Town Board meeting was called to approve the sale.
Kinyon said the 14,000-square-foot building is being sold to Moley as is.
"They're proposing to invest a quarter of a million dollars in it, and we get a piece of property back on the tax rolls and sell a building that's been an eyesore for many years and keep a business in Niagara County," Kinyon said.
He said Moley will apply for a payment-in-lieu-of-taxes, or PILOT, arrangement from the town Industrial Development Agency.
Slaby said Moley, which has been in business in Wilson since 1990, imports machinery from Italy to sell in North America and produces electronic control panels for industry. He said the company currently employs eight full-time and three part-time workers.