The TED fund now totals $3.8 million.
RELATED: Huber Heights approves first step in land purchase
The city wants to buy part of the Marian Meadows Shopping Center in the 6100 block of Brandt Pike with some of the money in that fund.
The planned purchase will be the start of project No. 2 for the TED program, which the city started last fall.
The city has budgeted $3.8 million to buy the land, perform market studies or environmental studies and other procedures that would prepare the site for redevelopment.
The city’s first project in the TED program was buying 52 acres of land at the corner of Executive Boulevard and Brandt Pike. The city also hired a Chicago-based consulting firm to conduct a study to determine the best use for the land.
The city will likely do something similar with the Marian Shopping Center land, said Huber Heights City Manager Rob Schommer.
RELATED: Huber Heights land deal final, now city to determine what to do next
Huber Heights has long talked about revitalizing the Brandt Pike corridor. This project will be the first step, Mayor Jeff Gore said when the project was announced.
The city has previously tried to buy this portion of the Marian Meadows Shopping Center.
The city put down $20,000 of “earnest money,” but ultimately decided not to move forward with the purchase because land adjacent to the property was not available and an interested developer ultimately pulled out, Schommer said.
RELATED: Huber Heights puts $20k toward land purchase that ends without deal
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