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2/4/2019 9:36:00 AM
Wayne County EDC buys downtown Richmond Elder-Beerman building

Jason Truitt, Palladium-Item

RICHMOND. — The fate of the downtown Elder-Beerman building now rests in the hands of the Economic Development Corp. of Wayne County.

The EDC announced Friday it has purchased the property for $300,000. Money for the sale will come from the county's Consolidated Economic Development Income Tax (EDIT) Fund, which is comprised of contributions from both county and municipal resources, including Richmond and other large towns.

Earlier this week, the Pal Item reported the building had been removed from an auction that included nine other former Bon-Ton stores across the country while a local task force made up of elected officials and business and community leaders worked to finalize a deal to buy the property.

Richmond's Elder-Beerman building had been offered at auction once before, back on Sept. 20. An undisclosed party put in a winning bid for the site and several other properties but ultimately decided not to move forward with buying all of them, according to Michael Jerbich of A&G Realty, the real estate firm that's representing the interests of the liquidators for Elder-Beerman parent company Bon-Ton.

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Editor, John C. DePrez Jr.; Executive Editor, Carol Rogers; Publishers: IBRC and IAR

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