Richmond officials approve $500K for train depot project

RICHMOND, Ind. (AP) - Officials in an eastern Indiana city have approved a local real estate company's request for $500,000 to renovate a 113-year-old passenger train depot.

The Richmond Redevelopment Commission voted unanimously Wednesday to grant the money as a 10-year forgivable loan to the Better Homes & Gardens Real Estate First Realty Group. The commissioners denied a different company's request for more than $170,000 to make an elevator code-compliant in the building across the street from the former Pennsylvania Railroad Depot.

The Palladium-Item (http://pinews.co/1ilsfpK ) reports that Better Homes plans to invest $1.75 million in purchasing and preparing the building for use as office space, and perhaps retail and restaurant space.

The company is expected to finalize layout plans and begin moving forward with the project soon.

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Information from: Palladium-Item, http://www.pal-item.com