Port board approves lease for East Toledo salt operation
10/26/2017A Fort Wayne, Ind., company received approval Wednesday from the Toledo-Lucas County Port Authority board of directors to expand its East Toledo operations bagging salt.
MidAmerican Salt, an importer, blender, material handler, and distributor of salt and other bulk materials, currently leases a 30,640-square-foot facility on Front Street.
The company aims to expand its lease to an adjacent 32,720-square-foot structure.
Under the agreement, MidAmerican would pay base rent of $61,000 annually during the first five years. The company has agreed to invest up to $400,000 in improvements to the facilities. Planned improvements include enclosing one building, and making electrical and plumbing upgrades, with installation of a truck scale.
The board approved the lease.
The board also approved a lease for a 33,138-square-foot building at Toledo Express Airport to Toledo Public Schools for its expanded aviation program.
The school board is expected to invest $4.6 million in remodeling the facility, including installation of a new roof, heating, ventilation, and air conditioning. Thelease calls for no rent owed during the first six years, $3.75 per square foot in the seventh year, and $7.50 per square foot for years eight through 10.
Contact Tom Troy at tomtroy@theblade.com, 419-724-6058, or on Twitter @TomFTroy.