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Business/Money

January 22, 2014

River Ridge keeps getting bigger: Development authority approves taking in nearly 1,000 acres

CHARLESTOWN — The River Ridge Development Authority on Tuesday authorized the ratification of a quitclaim deed for two parcels totaling nearly 1,000 acres from the U.S. government.

The two parcels contain 634.69 and 304.65 acres, respectively. The transfer is subject to the review of River Ridge Executive Director and Authority Attorney David Lewis, according to the resolution ratified by the board of directors Tuesday.

“We’ve done our additional due diligence to make sure that we feel comfortable to take ownership of the property,” Acy said. “We recommended to the board that we inform the Army that we’re ready to take title to the property.”

River Ridge first accepted parcels of land from the U.S. Army in 2005, to the tune of about 1,500 acres, Acy said. The addition of these two parcels will put the River Ridge Commerce Center at about 6,000 acres, Acy said.

“Once we’ve executed documents to take this acreage, we’ll be down to the last 1,000 acres,” Acy said.

BUDGET MATTERS

The board approved a 2014 budget totaling about $10.1 million. Acy said that capital projects contributed to the overall budget estimate.

“We’ve got some pending projects and some major infrastructure improvements that we will be making this year,” Acy said. “That’s pretty significant, and that’s roads, water, sewage and preparing additional sites for marketing.”

The board will have to pay to get bonds issued to pay its $6 million share of the costs for the construction of a new heavy-haul road connecting River Ridge to the Port of Indiana — Jeffersonville.

Other capital projects slated to begin in 2014 include the improvement of more than 1,000 feet of Salem-Nobel Road to accommodate a pending sale of a 50-acre parcel, which will be occupied by America Place, and the construction of a new road within the park, which will be called River Ridge Parkway.

River Ridge Parkway, which will be located near Catamaran, will open up the “next phase of good, developable sites,” Acy said.

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