[CPEO-MEF] Ammo plant lease nears reality

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Indiana
Ammo plant lease nears reality
Long-awaited pact to allow major development to begin
By MEGHAN HOYER
mhoyer@courier-journal.com
THE COURIER-JOURNAL

After years of planning, the former Indiana Army Ammunition Plant may
finally come under local control — a move that would allow the site to
be more aggressively developed as a business park.

Yesterday local Army officials signed off on the 50-year master lease of
the property, agreeing to a long-term deal with the local group
responsible for developing the property outside Charlestown in Clark
County.

The much-delayed document was immediately mailed to Washington, D.C., so
Army officials could give it their approval, which is expected within
weeks.

The master lease will allow the Indiana Army Ammunition Plant Reuse
Authority, the local group overseeing the site, to enter into long-term
subleases with businesses looking to locate there.

It also will give the authority the ability to eventually purchase and
resell the 5,800-acre former powder plant, which is widely considered
the most promising site for new industry in the Louisville area.

"I can tell you, I am glad," said Lloyd Foe, the chief of the military
real estate branch of the Louisville office of the Army Corps of
Engineers. "The long-term lease gives them an opportunity to attract the
major anchor tenants."

This article can be viewed at:
http://www.courier-journal.com/localnews/2003/04/24in/met-front-ammo0424-5733.html

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