City officials in Rochelle took no action last night dealing with an agreement with Gredco involving the railroad.
Gredco would like a share of the revenue brought in from the city's railroad as the figure now exceeds 1.5 million dollars a year. Gredco Director Jason Anderson said there are several benefits from the proposal. They include the growth of the city railroad, new revenue, creating jobs, and continue economic activities.
The agreement would include a 5 percent share of gross railroad revenue payable quarterly to Gredco with a minimum total of $50,000 a year. The agreement would be for 10 years with an automatic renewal for an additional 10 years.
Gredco Chairman Richard Ohlinger said the money will be used for the purchase of future land.
Rochelle Mayor Chet Olson was concerend about past debt for the city involving Gredco over the past 20 years. He wanted the debt to be written off in the agreement so they do not bring up the issue in the future. At the present time, it was not part of the proposal.
The figure totals $650,000 as Gredco had no problem in moving forward in eliminating this debt. The council may vote on the proposal on April 24th.
City officials did approve the updates on the alcohol ordinance as the wording has been in place for over 20 years. The changes include an increase of $100 to all of the licenses except the temporary Class T classification.
The last fee increase for a liquor license was done over 10 years ago.
Winners from last week's Consolidated Election will be sworn into office during a ceremony on May 1st at 10am. The list includes Dan McDermott, John Bearrows, and Kathryn Shaw-Dickey. The event will be held at City Hall.
Gredco Director Jason Anderson
