Jim Callahan
Jim Callahan
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OLD REID'S NEW DEMOLITION PRICE TAG: $7.7 MILLION

(Richmond, IN)--$7.7 million…that’s the new price tag on the demolition of the old Reid Hospital.  The removal was discussed at some length during Monday night’s Richmond Common Council meeting.  Council approved a resolution that would allow Mayor Dave Snow to pursue a loan through Indiana’s Brownfields Program.  The loan would be capped at $10 million.  The city would then be on the hook for a $385,000 annual loan payment for 20 years.  The money would come from the Redevelopment Commission, which is collecting $2 million annually in TIF dollars.  Council members Misty Hollis and Jamie Lopeman voted against the resolution, saying the plan should have been presented as an ordinance, which would have allowed citizens to comment.

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