Riverton is rapidly expanding and the city doesn't have enough land to accommodate. The land between Walmart and Honor Farm in Riverton may possibly be up for auction in the future and some business owners want to use the land to build more stores. Wyoming Business Council leaders look at a proposal Thursday to determine whether they will grant IDEA, Inc. money to bid on the land.
“Riverton is somewhat landlocked by both the reservation and honor farm. We have very little land,” says Roger Bower, Wyoming Business Council.
302-Acres lay between Walmart and Honor Farm and executives at IDEA, Inc. want to transform the area into a business park.
“This is an attempt to make land that is presently owned by the Wyoming Department of Corrections available for development for the Riverton, Wyoming area,” says Alan Moore, IDEA, Inc.
The Riverton area is rapidly expanding and there's a need for more land.
“We would like to encourage the development of other stores to come to our area to service our 40,000 people,” says Moore.
State officials must first determine whether that land owned by Honor Farm is surplus.
“If the entire parcel is determined to be surplus, that would be the minimum bid and a date to be set in the future,” says Moore.
If that date is set, IDEA, Inc. leaders hope to be there with a bid in hand.
“We have arranged a bank loan, we've taken out mortgages on other properties that we own, so that we can make the required fifteen percent match, for the Wyoming Business Council grant,” says Moore.
But they actually don't wish to own the land. Moore hopes that other people will outbid IDEA, Inc. because his company doesn't have the necessary resources to own the land.
“Our purpose is to ensure that the Department of Corrections gets the highest and best value for that land if it is determined surplus,” Moore.
He's focused on getting the land available for the city to use and that's why IDEA, Inc. is pushing for the auction.
“If no one else shows up, we will make the minimum bid and transfer the land,” says Moore.
And if they do end up owning the land, they will set auctions to sell the land for economic growth.
The state hasn't determined if the land is surplus yet and if it isn't, Honor Farm continues to own it.