LOCKPORT – The Town of Lockport Industrial Development Agency on Thursday directed Executive Director David R. Kinyon to report next month on plans for making the 91 acres of land the agency acquired from General Motors ready for development.
The IDA took the land through eminent domain after it was unable to reach a purchase agreement with GM, although the IDA had to pay the appraised value of $546,000. Kinyon said the IDA wants to check on the feasibility of adding the 91 acres to the generic environmental impact statement it already has for the adjoining town industrial park. Also, water, sewer and utilities need to be installed on the former GM property.
Town Supervisor Marc R. Smith said this week that one possible funding source might be the $83,295 the town was recently refunded by the Niagara County IDA from a block grant the town received in 2002 and turned over to the county IDA. The money was lent to a business in the industrial park, PAR Industries, which later closed.
“Probably the most return for residents of the community would be to bring business in,” Smith said at a Monday session of the Town Board. That board would need to vote to turn the money over to the town IDA, however.