Old Sock Factory In Brown County For Sale
The Brown County Redevelopment Commission is waiting for appraisals before it can sell the property that used to house a sock company. County officials hope to get rid of the property that belonged to For Bare Feet because it’s costing the county $17,000 dollars in annual insurance fees.
The former owners of the For Bare Feet donated the warehouse to the county in 2011 after a fire forced them to relocated to Martinsville. The county considered building a community sports complex but decided it would be too expensive to upgrade the utilities and bring the building up to code.
Brown County Commission President John Kennard says four businesses have since made proposals for how they would use the property. But the county is waiting for two land appraisals due in the next 45 days and can only sell the buildings for the average of the two appraisals.
“If the appraisal comes out $2 million for one and $1.8 million for another. The minimum we could sell that building for would be $1.9 million. That’s not going to happen in today’s world,” he says.
After the redevelopment commission finishes reviewing proposals, it will recommend a decision to the county council, which must approve the sale.
Read the news on Indiana Public Media: http://indianapublicmedia.org/news/sock-factory-brown-county-sale-55082/