December 29, 2010 —
Expansion and development of the Hudson Industrial Park has been slow but steady over the last quarter century, and now the Local Development Finance Authority (LDFA), which operates the industrial park for the city, is getting ready to do the next phase of expansion.
At the meeting of the Hudson City Council last week, City Manager Steve Hartsel told the council that the LDFA is moving forward with plans for Phase 5 of the Steger Industrial Drive extension project. This phase entails construction from South Munson Highway toward the east, ending just past the south boundary of the containment pond near the water tower.
Hartsel told the Council that Jones and Henry Engineers will prepare a detailed cost estimate for the LDFA; their preliminary estimate for this phase is $714,000. $324,000 of local matching funds from the water tower project is expected to be applied to the project, which is anticipated to be done late next summer.
The way the LDFA is set up, it captures the property taxes from the value of the park property, which adds up to a considerable amount in the years since the park has been opened. This means the LDFA, unlike the city, has developmental funds to work with.
The availability of these funds and other grants has meant continual development at the industrial park, some of which benefits the city in general. In 2011, the LDFA plans to reconstruct the north section of Steger Industrial Drive, which has suffered from heavy truck use. Last year, they did some drainage improvements and contributed toward the resurfacing of Munson Highway. The LDFA and state grants also paid for the new water tower at the industrial park.