MOUNT VERNON — Jeff Harris, president of the Area Development Foundation asked council Monday to begin the process for turning over the American National Can property to the foundation for inclusion on the newly-organized Land Bank.
The foundation, he said, will pay for the clearing of the trash and brush on the property so it can be better marketed to potential tenants.
He told council he also just found out about a 10-year tax exemption that can be available for former “brownfield” sites, which could be an extra incentive for clients.
The survey of the property is already completed, marking off the 16 acres the city is retaining for drainage and flood control, but work can start on the lot split and transferring the property.
In response to questions from council, Harris said the foundation and Land Bank would not pay the city for the property, but the city also did not pay anything to get it. Proceeds from future stakes of the property would be used to reimburse the foundation for cleanup expenses and to help put the land bank on a self-sustaining basis.