Rockford aldermen delay "Reclaiming First" decision - WREX.com – Rockford’s News Leader

Rockford aldermen delay "Reclaiming First" decision

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ROCKFORD (WREX) -

Adding on to a Rockford project doesn't have support from voting aldermen.

Purchasing 325 South Madison Street is laid over in committee again.  It's the old Rockford Watch Company factory - currently half-empty with only one tenant.  The property would serve mostly as a parking lot for the indoor sports complex coming soon to the old Ingersoll building on Water Street.

The owner has agreed to save the city money by paying for most of the building's demolition, but Finance and Personnel Committee members, Aldermen Venita Hervey, Ann Thompson-Kelly, and Carl Wasco are hung up on the price of purchasing the property: $580,000.

City leaders say that number won't get any lower.

"We're getting 3.42 acres of property right next to this venue that we want to make world-class. We don't think it's as high or as bad as some people think," says City of Rockford Administrator Jim Ryan.

By next week, aldermen would like to see information on the cost of maintaining the part of the building that won't be demolished, and kept for historic preservation.

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