ANDERSON — The city’s Department of Economic Development will employ a new method to track down businesses interested in coming to the city.

The Board of Public Works on Tuesday approved a contract between the Economic Development Department and Research On Investment, a company that will help the city find companies ready to expand or relocate and set up discussions between the two.

The $26,000 contract will get the city 20 leads on businesses, Economic Development Director Linda Dawson said. Leads constitute businesses that have built in capital improvements to their budgets in the next few years, meaning they are likely to be looking to expand or relocate.

“It’s a superior way of developing outside sales leads without cold calls,” Dawson said. “Cold calls rarely work.”

After the city determines exactly what type of company it is interested in attracting, Research On Investment will find companies that fit the bill and city economic development officials will take trips starting this fall to visit with those companies.

One trip to visit 10 leads on the West Coast is planned for around November, and another for 10 leads on the East Coast will be in April, Dawson said.

The contract, which will be funded by the food and beverage tax, is a good deal for the city, Board of Works member Shirley Weatherly said.

“It’s a wonderful opportunity for you in Economic Development and will save quite a bit of money,” she said.

The $26,000 will be paid in several increments, and the city will not have to pay more if it ends up attracting a business with Research on Investment’s help, Dawson said.

The contract comes after about five years of the city interviewing companies that could help them attract businesses.

Also at the meeting, the board approved a $4,955 expenditure to clean up the former General Motors Plant 20 site. The vacant site has not been showing well to potential inhabitants because of chipped paint, dirty floors and unnecessary equipment and furnishings inside, Dawson said.

The money will come from the city’s GM redevelopment account, overseen by the Redevelopment Commission, which has agreed to spend the money based on the Board of Works’ approval. The Redevelopment Commission would not meet in time for when the cleanup needs to start.

“I hate to wait a month to get this clean because we are showing this building constantly,” Dawson said.

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In other Board of Public Works business:

— The board approved a maintenance agreement with Hoosier Park that entitles the park to hang banners on city streets surrounding it as long as it maintains the medians on Scatterfield Road between Charles Street and Interstate 69 and other nearby property.

— The board waived tap and tile fees for 1812 Sheridan St., a home that will be occupied later this month through the city’s affordable housing program.

— The board established an Oct. 7 bid date for the building of a 2-million-gallon-a-day equestrian well.

— David Wilbur of the city’s Planning Department reported that businesses all over the city are putting up temporary banners without receiving the proper permits from the city. The permit fee is $1 a day, with a minimum of $15 and maximum of $40.

— The board reset the bid date for central service switchgear at Anderson Light and Power because there were no bids accepted.

— The board discussed changing meeting times to 3 p.m. every other Tuesday instead of every Tuesday. Board members seek public comment on the proposed change.