May 28, 2010
FOR THE RECORD: HMDA Continues Marketing Industrial Center
By Tony Rutherford
Huntingtonnews.net Reporter
Huntington, WV (HNN) – On May 18, 2010 Huntingtonnews.net ran a story about developer Scott Hutchinson not executing an agreement to lease space at the Huntington Industrial Center. Although the property is listed on the HADCO.ORG web site for further inquiries, the Huntington Industrial Center property, which was formerly portions of Owens-Illinois (and SNE Enterprises), is owned by HMDA.
HNN’s headline inadvertently stated this was a HADCO, not HMDA, property option. The story itself was correct.
HADCO was formed in the early 1990’s and their first challenge was the closure of the Owens-Illinois Glass Plant which resulted in the loss of 600 jobs. HADCO took a lead role in redevelopment of this site, “spearheading its transformation into a multi-tenant industrial park, creating more than 400 jobs,” their web site states. http://www.hadco.org/about_progress.asp
The Huntington Municipal Development Authority (HMDA) established in 1984 helps bring new businesses and business opportunities to Huntington. HMDA oversees the Kinetic Park project. According to a March 5, 1997 news release, Owens-Illinois sold the 42 acre site of its former glass container manufacturing plant to the Huntington Municipal Development Authority for development as an industrial park.
From a combination of HADCO leadership and actions by the City of Huntington, the Huntington Industrial Center was one of ten Regional Federal EPA Brownfield projects receiving the national Phoenix Award, which recognizes locations that have solved critical environmental problems while transforming abandoned industrial areas into productive new uses. Click HERE to view PDF of the three Huntington pages from the EPA presentation.
HADCO managed and marketed the site “until it was filled with tenants in 2002.” http://www.hadco.org/about_progress.asp
Huntington Area Development Council (http://www.hadco.org) has a mission to attract new employers to Cabell & Wayne Counties, retain existing employers and help all employers expand their businesses. Headed by Marc Sprouse, HADCO develops and manages business parks and industrial buildings and acts as a broker for state, federal and local financing, job training loans and grants to assist new or expanding business.
Click HERE to view the HMDA property specifications from the HADCO website.
Here is the original story:
Developer Scott Hutchinson did not execute an agreement to lease space at the Huntington Industrial Center, according to Steve Williams, a member of the Huntington Municipal Development Authority (HMDA). Mark Bates, HMDA member and vice chairman of council, also confirmed “no deal,” but could not provide additional details.
At a Friday, May 14 meeting HMDA gave Scott Hutchinson until 5 p.m. Monday, May 17 to exercise an option to lease 120,000 square feet at the Industrial Park.
During a lengthy executive session, HMDA discussed amendments proposed by Hutchinson. They rejected at the special meeting Friday.
Hutchinson originally had until April 30, 2010 to exercise the option which called for him to lease for three year property where the Owens-Illinois glass factory once stood. He would have then purchased the 40 plus acres after three years for $4 million dollars. The location included the vacant 400,000 square foot SNE location. The manufacturer of vinyl windows and patio doors closed in 2008.
Steve Williams told Huntingtonnews.net that Tom Bell, executive director, had forwarded an e-mail that Hutchinson would not exercise the option.
A lease at the industrial park could have offset the loss of rental income at Kinetic Park. As it stands, the HMDA has serious cash flow difficulties and the city must pay from C.D.B.G. funds the $400,000 (plus) loan on Kinetic Park. Having to budget the loan payment into C.D.B.G. allocations has resulted in the City of Huntington not fully funding community based projects.
[Editor’s Note: The City of Huntington 2010 Action Plan listed three Section 108 loans, of which, 10-26 is Kinetic Park, $404,573.00; 10-25 is Huntington Renaissance Housing, $154,500, and 10-24 is Douglass Centre, $102,000. Download PDF of 2010 Activity Project Worksheets, click HERE.]
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FOR THE RECORD: HMDA Continues Marketing Industrial Center
By Tony Rutherford
Huntingtonnews.net Reporter
Huntington, WV (HNN) – On May 18, 2010 Huntingtonnews.net ran a story about developer Scott Hutchinson not executing an agreement to lease space at the Huntington Industrial Center. Although the property is listed on the HADCO.ORG web site for further inquiries, the Huntington Industrial Center property, which was formerly portions of Owens-Illinois (and SNE Enterprises), is owned by HMDA.
HNN’s headline inadvertently stated this was a HADCO, not HMDA, property option. The story itself was correct.
HADCO was formed in the early 1990’s and their first challenge was the closure of the Owens-Illinois Glass Plant which resulted in the loss of 600 jobs. HADCO took a lead role in redevelopment of this site, “spearheading its transformation into a multi-tenant industrial park, creating more than 400 jobs,” their web site states. http://www.hadco.org/about_progress.asp
The Huntington Municipal Development Authority (HMDA) established in 1984 helps bring new businesses and business opportunities to Huntington. HMDA oversees the Kinetic Park project. According to a March 5, 1997 news release, Owens-Illinois sold the 42 acre site of its former glass container manufacturing plant to the Huntington Municipal Development Authority for development as an industrial park.
From a combination of HADCO leadership and actions by the City of Huntington, the Huntington Industrial Center was one of ten Regional Federal EPA Brownfield projects receiving the national Phoenix Award, which recognizes locations that have solved critical environmental problems while transforming abandoned industrial areas into productive new uses. Click HERE to view PDF of the three Huntington pages from the EPA presentation.
HADCO managed and marketed the site “until it was filled with tenants in 2002.” http://www.hadco.org/about_progress.asp
Huntington Area Development Council (http://www.hadco.org) has a mission to attract new employers to Cabell & Wayne Counties, retain existing employers and help all employers expand their businesses. Headed by Marc Sprouse, HADCO develops and manages business parks and industrial buildings and acts as a broker for state, federal and local financing, job training loans and grants to assist new or expanding business.
Click HERE to view the HMDA property specifications from the HADCO website.
Here is the original story:
Developer Scott Hutchinson did not execute an agreement to lease space at the Huntington Industrial Center, according to Steve Williams, a member of the Huntington Municipal Development Authority (HMDA). Mark Bates, HMDA member and vice chairman of council, also confirmed “no deal,” but could not provide additional details.
At a Friday, May 14 meeting HMDA gave Scott Hutchinson until 5 p.m. Monday, May 17 to exercise an option to lease 120,000 square feet at the Industrial Park.
During a lengthy executive session, HMDA discussed amendments proposed by Hutchinson. They rejected at the special meeting Friday.
Hutchinson originally had until April 30, 2010 to exercise the option which called for him to lease for three year property where the Owens-Illinois glass factory once stood. He would have then purchased the 40 plus acres after three years for $4 million dollars. The location included the vacant 400,000 square foot SNE location. The manufacturer of vinyl windows and patio doors closed in 2008.
Steve Williams told Huntingtonnews.net that Tom Bell, executive director, had forwarded an e-mail that Hutchinson would not exercise the option.
A lease at the industrial park could have offset the loss of rental income at Kinetic Park. As it stands, the HMDA has serious cash flow difficulties and the city must pay from C.D.B.G. funds the $400,000 (plus) loan on Kinetic Park. Having to budget the loan payment into C.D.B.G. allocations has resulted in the City of Huntington not fully funding community based projects.
[Editor’s Note: The City of Huntington 2010 Action Plan listed three Section 108 loans, of which, 10-26 is Kinetic Park, $404,573.00; 10-25 is Huntington Renaissance Housing, $154,500, and 10-24 is Douglass Centre, $102,000. Download PDF of 2010 Activity Project Worksheets, click HERE.]
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