New life for the former Lima Locomotive Works.
Lima City Council tonight approving the sale of the property to the Lima Energy Company.
The city originally purchased the property in 1999.
The sale price to Lima Energy was 1 point 5 million dollars.
Another 100 thousand dollars will go into a trust for the city.
The sale amount will cover what the city invested into the property since they bought it.
The project will turn resources such as coal into a low cost synthetic fuel for the gas, jet fuel and diesel markets.
Senior advisor for Lima Energy, Dwight Lockwood says this will allow the company to move forward in developing the property.
Lockwood says 70 jobs will be created during phase one of the project.
There should be 120 jobs by the end of phase 3.
