Illinois Treasurer Dan Rutherford Plans to Sell Granite City Property to Free It for Economic Development
Office of Illinois Treasurer Dan Rutherford|Wednesday, July 20, 2011
State Treasurer Dan Rutherford is announcing that he is pursuing a bid sale of Granite City property, which would clear the way for economic development and jobs. Rutherford said, “The decision about what to do with this piece of property has been my responsibility, and I feel it’s high time that it be used for job creation.” The property, at 1151 Johnson Road, has been held in a trust under the direction of the state treasurer for the benefit of the people of the state of Illinois after the property was forfeited as part of collateral in a state loan.
Rutherford hopes the property will be used for a new business. “I look forward to the day when this property generates jobs for the Granite City area,” Rutherford said. This parcel is 1.1 acres, and has been idle for more than three years. “What this state needs is more jobs, and hopefully this will have a positive impact on Granite City and the Madison County area,” said Rutherford.
Rutherford expects to conduct a sealed bid auction by the end of September. Funds from the sale will be returned to the trust until such time as it can be transferred into the state’s general revenue fund.
