From the Northwest Indiana Times:
The Economic Development Commission and Redevelopment Commission on Monday approved the sale of economic development revenue bonds to Strack & Van Til as part of the grocery chain's plan to build a new store.
The closed sale involves bonds not to exceed $800,000, sold for a period of not more than 18.5 years. The bond sale is part of a development agreement between Cedar Lake and Strack & Van Til.
According to the agreement, Strack’s bond debt service will be paid via its property taxes. The Town Council is expected to approve the bond sale at its regular meeting Tuesday.
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http://www.nwitimes.com/news/local/lake/cedar-lake/cedar-lake-gives-initial-ok-to-strack-van-til-bond/article_03f387d6-8c4d-50af-bd8f-fe86a444871d.html
