Times article on development company

For some reason this specific article was chosen for no comments on the Times' website, I thought I'd help keep the conversation open and transparent. I don't know a thing about the story, who does? Update: Post Tribune article on same story, does allow commenting but only through the entirely unusable Plurk commenting system, the worst one online. Sorry to be negative, but with both the Times and the Post starting to listen lately, thought I'd see who was listening this weekend? (So far Chesterton Tribune, Michigan City Dispatch, and other smaller papers are non-entities for engaging)

A member of the group that recently settled a lawsuit with a New York-based company over a loan resigned Friday.

Allan Katz, a member of the Crown Point Development Corp. sent an e-mail to the corporation president Friday morning informing her of his resignation. In the e-mail, he outlined his displeasure with the handling of the Plasmatronics case and settlement.

"The matter is now in the hands of the federal authorities, who may recover additional funds for the people of Crown Point," Katz wrote.

Katz said he has been interviewed by the FBI about the loan and will continue to cooperate with the agency because it may help Crown Point gain additional funds.

Agent Wendy Osborne, spokeswoman for the FBI, said the agency does not confirm interviews or investigations.

Joseph Stalmack, Plasmatronics' attorney, could not be reached for comment.

The city's development group resolved a dispute over a $380,000 loan to New York-based Plasmatronics with a $125,000 settlement in October.

Last December, the corporation hired attorneys with Indianapolis-based law firm Ice Miller to recover the $380,000 in economic development money that the agency loaned Plasmatronics Inc. to locate in the city and manufacture its Plasma Drive Ignition system. Officials decided to attempt to recover the loan after the company terminated its relationship with the city.

At the October meeting where the corporation approved the settlement, it also voted to begin steps to dissolve the corporation. A meeting to vote on the dissolution was scheduled for Friday, but was rescheduled.