LaGrange County EDC Provides Regional Utility District with Loan for Cedar Lake Sewer Study

07/06/2016
News Release
Contact: Ryne Krock, LaGrange County Economic Development Corporation, 260.499.4994
 
LaGrange County EDC Provides Regional Utility District with Loan for Cedar Lake Sewer Study
 
LaGrange, IN (July 1, 2016) - The LaGrange County Regional Utility District Board of Trustees and staff held a special public meeting on Friday morning to approve a loan from the LaGrange County Economic Development Corporation in the amount of $50,000. The monies will be used to further explore expanding sewer service to Cedar Lake in Lima Township. The loan agreement's structure calls for full repayment should the infrastructure project move forward after construction financing is secured and detailed engineering plans are complete and approved.
 
Last year, the Indiana Toll Road Concession Company, LLC, the operator of the Indiana Toll Road, announced plans to demolish and rebuild the Toll Road Plaza located 5 miles east of Howe. THeir plans call for construction of 5.1 miles of water and sewer lines to tie their facility into the Fawn River Crossing utility service systems at the intersection of State Road 9 and I-80/I-90. In an attempt to leverage their infrastructure investment, officials are exploring a new waster-water collection system for Cedar Lake and nearby properties. Waste water collection services could potentially be provided to approximately 170 properties, eliminating the use of aging septic systems in a mostly dense populated area.
 
"We certainly appreciate the collaboration, and financial support of the LaGrange County EDC, and especially under a very tight schedule. Our working relationship with ITRCC on this important initiative on the Toll Road will benefit all residents of LaGrange County," said Patrick Wiltshire, President of the Lcrud Board of Trustees.
 
The EDC Board of Directors approved the $50,000 loan offer at a Board Meeting on Tuesday evening. The funds will be used for a preliminary engineering analysis and report as well as financial and rate analysis. Officials anticipate a potential savings of over $900,000 in eventual construction costs for the Cedar Lake project if it is coupled with the ITRCC's tie-in project.

Ryne Krock, President and CEO of the EDC, acknowledges that there is some risk associated with the loan, but sees the benefit far outweighing said risk. "LaGrange County has been handed a tremendous opportunity to improve our infrastructure at Cedar Lake and in the Howe area by virtue of the ITRCC's investment. To not explore this opportunity would be an enormous mistake. Utility infrastructure in both residential and commercial areas are critical to quality of life enhancement and economic growth. I can't say enough about the leadership of the EDC and LCRUD Boards and everyone else who has brought this project forward," he said. 
 
Findings from the financial and rate analysis as well as the preliminary engineering  report will be shared with impacted property owners and the general public in a public hearing to be announced at a later date. The Toll Road operators plan to complete construction and have the toll plaza fully operational by mid-2017.
 
About the LaGrange County Economic Development Corporation
The LaGrange County Economic Development Corporation, established in 2009, is a 501(c) 3 corporation designed to assist business development needs. The LCEDC partners with local, regional, state, and federal agencies to attract, retain, and develop new businesses and entrepreneurs in LaGrange County and its communities. For more information about the LaGrange County EDC, please visit www.lagrangecountyedc.com or call at 260.499.4994.
 
About the LaGrange County Regional Utility District
The LaGrange County Regional Utility District (Lcrud) is a non-profit municipal corporation founded in 1990 under authorization of Indiana statutes, and provides water filtration, waste water collection and treatment services to over 3,200 residential and business customers in its charted service area which consists of most unincorporated areas of LaGrange County. For more information about Lcrud, please visit www.lagrangewatersewer.com or call at 260.499.6349.
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