The sale of the Ranger Building at 220 – 224 N. Main St., in downtown Lima was approved Oct. 27 by the Board of Directors of the Port Authority of Allen County, according to Marcelyn Boone, chair of the Port Authority Board.
Sandra J. and James E. Monfort, of 1937 Wendall, Lima, are purchasing the building for $50,000. The transaction is expected to be completed before the end of the week.
The Board also approved a five-year lease of the railroad line owned by the Port Authority running from the Van Wert County line through Spencerville to Lima. The lease continues the relationship with Allen-Van Wert Railroad Co., owned by Mercer Landmark, which has leased the railroad line for the last 10 years. The Port Authority is to receive a $3,000 annual payment and the railroad is responsible for all operations, maintenance and insurance.
In other action, Ms. Boone said the Board approved the lease of land at 3047 McClain Road for two billboards. The land for the billboards is along I-75 and will be leased to the Hollingsworth Media Group for 20-years with the Port Authority receiving $4,800 a year.
“The company has offered a plan to become current with past due amounts of $24,000, including $9,600 due Allen County for when the county owned the land before turning it over to the Port Authority,” said Boone,
The Port Authority was formed in 1982 by the Allen County Commissioners. However the Port Authority is a separate independent unit of local government not part of the County.
Under Ohio law, a Port Authority can own, lease, and finance land, building and equipment for credit-worthy companies, non-profits and other governmental units. While maritime commerce was the initial purpose for port authorities, the state law governing port authorities has been broadened significantly to include transportation, economic development, housing, recreation, education, governmental operations, culture, or research.
