The Pulaski County Commissioners approved the sale of the former IBC Thermoplastics real estate to a resident who purchased the property at auction Thursday, September 26.
The company was not successful after obtaining a revolving loan fund from the Community Development Commission and the real estate was used as collateral as part of the agreement. The property at 8477 W. 200 S. went through the foreclosure process. The equipment did not sell separately so it was sold with the building at an auction price of $102,500.
The commissioners were asked to approve the sale of the property for that price and they did so by unanimously approving a motion during their meeting Monday, October 7. The closing will occur soon and the money will be reverted back to the Community Development Commission’s revolving loan fund. About $9,000 in back taxes will come back to the county.
