Canfield council mulls Red Gate property
Canfield City still has about 290 acres of property on Leffingwell Road and U.S. Route 62 with no course of direction for the future after 11 years.
The property, Red Gate Farm, has brought the city some income through agricultural leases, but about $700,000 is still owed on it.
It was purchased for $2.3 million,
A recent $175-acre bid from Martig Farms of Beloit for 200 of the acres would bring in about $35,000 every year for three years.
“In order to bring more revenue into the city, the city has to grow,” Councilman John Morvay, said at Wednesday’s council meeting. “That asset could become very valuable. Why get rid of it now?”
Read more of council's actions in Thursday's Vindicator or on Vindy.com.