ANGOLA – The Angola Economic Development Commission recommended the approval for the property located at 115-125 N. McKinley St. and 1210 W. Maumee St. for the designation of Economic Development Target Area during a meeting Monday morning at City Hall.

The Ridge Group at Muncie based development and construction company has plans to turn the land into the West Commons apartment complex downtown Angola.

The first reading of the EDTA ordinance will next go to the Angola Common Council on August 1.

The recommendation allows the development group for a proposed 10-year abatement for Real Property on a sliding modified scale with a 100% tax abetment on the property for the first six years and then the abetment will continuously decrease following year six.

The argument from The Ridge Group for the land to be considered a target area was that any group would have issues trying to develop on the property.

The tax abatement will also help the group better secure financing for the project which is estimated to cost of $10 million.

A second and third reading of designating the area as an Economic Development Target Area will take place on August 15.

During the Aug 15 Common Council meeting The Ridge Group will also be presenting an up-to-date development plan for the West Commons project.