In tonight’s Indiana News Center newscast, Jeff Neumeyer reported the following:

Officials with the City of Fort Wayne are hoping the incoming Obama administration will deliver some late Christmas gifts to boost jobs and the condition of local infrastructure.

Mayor Tom Henry’s administration would love to see an Obama Presidency hand over ten million dollars to help the city purchase the old OmniSource land on North Calhoun Street, and get it ready for re-sale to a prospective developer.

What??

Ten million dollars for the OmniSource land?  The original asking price was $4.3 million.  That’s an increase of $5.7 million.  Now there are two possiblities here.  The first is that Neumeyer misheard/misspoke.  The second is that the increase includes environmental clean-up/remediation and demolition of what’s still there.  I cannot imagine demolition and putting the property into a “shovel-ready” condition would cost more than a million – and probably not even that much.  This last option leaves a lot for the environmental remediation which again begs the questions of just how contaminated that property really is – and is the property worth the $4.3 million asking price?

I have emailed a contact at the City to confirm the figure Neumeyer reported.

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