Stens backs out of Kimball deal

Stens has backed out of the deal with Kimball International to purchase the 208,400-square-foot-building at 1220 Power Drive.

The deal became news as the new tax abatement program adopted by Jasper late last year potentially kept Stens from relocating to a town south of Louiville. Stens was awarded a property tax abatement for the upgrades and additional jobs it would be creating by relocating the larger building.[box]

Those stories here:

Stens Corporation reaches agreement with Kimball on building

Two local companies first to apply for tax abatement under new Jasper ordinance

[/box]Kimball International doesn’t have much information on the decision by Stens but according to Kimball spokesman Marty Vaught, Stens acted within their rights to back out of the deal. “They decided they did not want to purchase the building.”

Vaught was not sure when Kimball was notified of the decision but Stens has already sold their current building and was to be moved out by June of this year.

According to Jasper Mayor Terry Seitz, Stens is looking for a suitable location in Jasper or Dubois County and will likely still utilize the abatement program.

As of now, the Kimball building is up for sale again. “We’ll continue to maintain it, pay the property taxes and have it on the market,” Vaught said.

Stens has not commented on the decision.