The Gary Redevelopment Commission on Wednesday gave its approval to an amended agreement with MaiaCo, an entity it expects to help the city in terms of combining parcels of land into large tracts suitable for jolting the city’s economic development.
Commission President Kenya Jones was absent, but four other members all voted in favor of amending the partnership with MaiaCo LLC the city originally approved in 2016.
Now known as MaiaCo Partners, company President Michael Reinhold said the restructuring will help boost their ability to find financial investors on behalf of Gary.
Amendments also alter the amount of public reports company officials will have to provide to city officials, along with some of the milestones the company is supposed to achieve gradually during the next three decades. Instead of coming at intervals of five, 10 and 20 years into the company’s existence, there now will be goals to be met annually.
Also changing will be the reports indicating MaiaCo’s progress. Under the old partnership agreement, there were annual reports to be made to the city.
But Redevelopment Executive Director Joseph Van Dyk said there now will be quarterly reports.
The Redevelopment Commission gave its approval to the amended partnership agreement with minimal public discussion.
In fact, in Jones’ absence Wednesday, the commission completed all of its business within six minutes, which administrative secretary Jeraldine Williams said possibly is a Gary record for municipal brevity.
In other business, the Redevelopment Commission transferred control of a property it has in the 1100 block of Wilson Street to the city’s Department of Community Development.
The block is a residential neighborhood, and Zillow.com said the property in question is a single-family home dating to 1916.
Van Dyk said Community Development officials had requested control of the property.
Also, the Redevelopment Commission acknowledged it had received bids from two companies, both in Northwest Indiana, willing to remove asbestos from eight structures controlled by, and scattered throughout, the city.
Attorneys for the commission will be reviewing the bids, and a contract possibly could be awarded when the Redevelopment Commission meets again Aug. 15.
Gregory Tejeda is a freelance reporter for the Post-Tribune.
