Niles has option to acquire ice rink property from AEP
Published 9:26 am Thursday, August 11, 2016
Although it is summer time, the Niles City Council appears to have scored a major win for winter.
On Monday, the council unanimously approved a deal with American Electric Power (AEP) that will likely result in the city acquiring the property on which the ice skating rink is located.
The city had been leasing the land from AEP for several years and using the site for the purpose of the winter activity. The property is located at 527 N. Front St., in Niles, across the street from the skate park.
City officials believe the property is desirable for recreational use and future economic development purposes.
In exchange for the property, the city is granting an easement to AEP for 2.385 acres of land located on city-owned property in Howard Township. AEP requested the easement in order to expand its electrical transmission capabilities and upgrade the Kenzie Creek-Corey substation in Howard Township, according to city officials.
AEP is in the process of performing environmental remediation work on the 527 N. Front St. property and, since the resulting condition of the property is unknown, AEP is placing $14,310 and the deed for the property in escrow. After AEP has completed remediation the city has the option to either accept the deed or accept the monetary payment for the easement.