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City To Extend Plaza Drive South To Ind. 37
Updated August 19, 2015 7:50 AM
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(BEDFORD) - The City of Bedford has reached an agreement with some landowners to purchase property to construct Plaza Drive South.

According to city officials, the project will extend Plaza Drive South from 16th Street, past the entrances of McDonald's restaurant and Lowe's Home Improvement store to 23rd Street where it will turn west to link with State Road 37.

The property's 2.169 acres appraised for $99,100, and the city offered to pay that price, but the landowners Robert Ryan II, Anthony Galloway and Peggy Louden did not like the price. So the matter went before a judge, and the city placed the money into an escrow fund pending final settlement.

The owner's appraisal put the value of the lane at $363,780.

The judge set the appraised price at $16,270 after concerns that vehicles would not be able to enter the parcel from Ind. 37.

During a mediation session, the city and the landowners agreed to pay and accept $125,000 for the property.

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