The Junction City Commission has approved an addendum to an original purchase agreement for the the former call center building on South Spring Valley Road. Highland Enterprises would pay $3,250,000 instead of an earlier original price of $3,750,000 to acquire the property if a VA grant is awarded to them.
Highland Enterprises does plan to improve the property. Needed repairs and renovations are estimated in the $1.5 to $2.3 million dollar range. Some of those repairs would include the HVAC system, parking lot, storm sewer and to the roof.
It could be several months before a grant is awarded.
The City has also moved to support the use of Industrial Revenue Bonds in an amount not to exceed” an estimated cost of the project and a $40,000 payment in lieu of taxes for ten years if the federal Veterans Administration offers the project to Highlands Enterprises and the 2031 South Spring Valley Road location. The City would not be liable for repayment of the IRB's.