Two bidders want Gary’s Screw & Bolt plant
GARY — Two out-of-state companies want to purchase the shuttered Screw & Bolt Co. factory located on a 20-acre site, near Interstate 65.
The Redevelopment Commission opened the bids Wednesday and the apparent top bidder was Environmental Cleansing, of Markham, Ill., at $519,700. The other bidder was Restore LLC, of New York, N.Y. Its bid was $495,000.
The property was formerly owned by the scandal-plagued Gary Urban Enterprise Association and is one of the largest in its portfolio.
Redevelopment Department Director Joseph Van Dyk said the Screw & Bolt property, at 901 Alabama St., will be used for material recycling, likely from industrial sites. The commission took the bids under advisement for study.
In its prime, the Screw & Bolt Co. made tons of bolts, nuts, rivets, rods and fasteners bought by the U.S. Defense Department during World War II. In the 1950s, it employed about 900 people. As the economy changed, the company’s fortunes faltered and it closed in 1986.
According to a settlement with the state and federal government, proceeds from the sale will be paid to the Indiana University Foundation to provide endowed scholarships for students from the Emerson neighborhood to attend Indiana University Northwest.
In other business, the commission approved a 2014 $65,000 professional service contract with J. Gari and Associates. J. Gari is headed by Bo Kemp, the campaign adviser to Mayor Karen Freeman-Wilson and a close associate. Van Dyk said J. Gari provides consulting on the commission’s Lakefront Tax Increment Finance Zone and with financial issues regarding the Gary South Shore RailCats baseball operation.
Also, a contract was awarded to Soil Material Engineering Inc., of Indianapolis, for $27,500 to manage the demolition of the Sheraton Hotel. Shrewsberry and Associates LLC, of Indianapolis, received a $30,000 contract for air monitoring of asbestos during and after the demolition.
No demolition date has been set yet.