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Tuesday, May 7, 2024 |
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Bank One Deal Smells |
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acclaro
Prominent MUSA Citizen Joined: Jul 01 2009 Status: Offline Points: 1878 |
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Posted: Apr 15 2014 at 9:28am |
A built in 'panic room', count my business partners in. Fast-tracking online LLC registration, and having corporate attorney call LL and request 30 days wait period, to submit a $200 + bid.
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'An appeaser is one who feeds a crocodile, hoping it will eat him last.' - Winston Churchill
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spiderjohn
Prominent MUSA Citizen Joined: Jul 01 2007 Location: United States Status: Offline Points: 2749 |
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this could be too cool...
none of my friends or me have ever owned a bank vault! |
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Middletown29
MUSA Citizen Joined: Mar 30 2011 Status: Offline Points: 474 |
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I do not know.
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swohio75
MUSA Citizen Joined: Jun 13 2008 Status: Offline Points: 820 |
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Is he part of MPH, LLC?
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Middletown29
MUSA Citizen Joined: Mar 30 2011 Status: Offline Points: 474 |
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Commercial
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swohio75
MUSA Citizen Joined: Jun 13 2008 Status: Offline Points: 820 |
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Just curious which property. Commercial/Residential? |
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acclaro
Prominent MUSA Citizen Joined: Jul 01 2009 Status: Offline Points: 1878 |
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Well.....the city prosecutor should, as it would have been investigated. Passing checks above 500.00 is a felony, and usually relying on lack of knowledge about an account balance is not sufficient.
City should expect any buyer to have $100,000 set aside for renovation or upkeep, and an escrow fund set aside as apart of deal associated with the deal if it is based upon other criteria than best bid. |
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'An appeaser is one who feeds a crocodile, hoping it will eat him last.' - Winston Churchill
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Middletown29
MUSA Citizen Joined: Mar 30 2011 Status: Offline Points: 474 |
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Waldon defaulted on purchase of downtown real estate last month.
I understand thousands in bounced checks were involved. Did City know about bad checks when they struck deal with Waldon? |
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Vivian Moon
MUSA Council Joined: May 16 2008 Location: Middletown, Ohi Status: Offline Points: 4187 |
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I believe the Bank One Building should be sold
for $225,000 plus $46,000 in remodeling cost that were paid for by the city in
October 2013 for the Miami Research part of the building for a total sale price
of $271,000
The current annual revenues at Bank One Building are: Miami Research…………….…….$68,004 Middletown Historical Society….......$1,200 AAUW Lease…………………...…...$700 Total Annual Revenues..……..…...$ 69,904 The city also recently declared this building historic so federal tax credits will be made available for the restoration of the I believe the above information reflects the true value of this property. |
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over the hill
MUSA Citizen Joined: Oct 19 2012 Location: middletown Status: Offline Points: 952 |
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Wake up council get your head out of the sand (or any other part of your anatomy) can't you see Doug,Judy, and Les are not telling you things you need to know.Mr. Mayor you're probably the worst. Your little "golden girl" is not being truthful with you. Or does she tell you and you turn a deaf ear to the truth? Maybe we need to have you relieved of your duties. The two attorneys sitting on council just blindly go along with out questioning. I'm not sure they would be very affective in court if that's how they approach a case. JMO
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Iron Man
MUSA Resident Joined: Sep 25 2013 Status: Offline Points: 112 |
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Thank you for saying what all of Middletown is thinking! |
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Miss Kitty
MUSA Immigrant Joined: Oct 29 2012 Status: Offline Points: 61 |
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WHY? Because she does what she wants and the people in this community don't have the balls to do anything about it. That's why. Does any one really think Mr Walden has the money to buy this building? I don't know who would be a worse owner- Walden, Robinette, Moormans, that Murphy girl, they're all in bed together.
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Middletown29
MUSA Citizen Joined: Mar 30 2011 Status: Offline Points: 474 |
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Evidently the City Manager Gilliland received numerous offers to purchase the bank property. Her answer was always the same IT IS NOT FOR SALE.
Along same Chris Walden and Gilliland's tune changed. Why? |
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VietVet
MUSA Council Joined: May 15 2008 Status: Offline Points: 7008 |
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Might not do any good..... It has been found that, over time, one problem with involving Law Director Landen in any interpretations is that ole' Les, doesn't quite interpret the law (ordinances) verbatim. There has been evidence in older subjects and posts on this site, that when it comes time for law decisions, Leslie doesn't quite follow the "letter of the law", but rather throws a bit of, let's say, "imagination" into the final decision so that the final outcome will reflect the flavor of the day as to accomodating the wants and needs of a few. It is a convenience offered by the law department for the friends of the city at no extra cost. He is a good servant for Team Gilleland with the added benefit of being the official city crooner. Does it get any better? |
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I'm so proud of my hometown and what it has become. Recall 'em all. Let's start over.
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over the hill
MUSA Citizen Joined: Oct 19 2012 Location: middletown Status: Offline Points: 952 |
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Well as I understand a copy of the ordances pertaining to executive meetings and the sale of city property has been layed on Mr Landen desk I guess to save him time from having to look it up. I suppose he'll get the message.
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Perplexed
MUSA Citizen Joined: Apr 22 2009 Status: Offline Points: 315 |
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MEMORIES.................At a prior City Council meeting Dougie Atkins proclaimed to the members, "Give me the power and I'll make things happen. He certainly has!!
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Vivian Moon
MUSA Council Joined: May 16 2008 Location: Middletown, Ohi Status: Offline Points: 4187 |
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Thanks you both for the above information.
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Mike_Presta
MUSA Council Joined: Apr 20 2008 Location: United States Status: Offline Points: 3483 |
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ORC 1.22(G)(2) To consider the purchase of property for public purposes, or
for the sale of property at competitive bidding, if premature disclosure of information
would give an unfair competitive or bargaining advantage to a person whose
personal, private interest is adverse to the general public interest. No member
of a public body shall use division (G)(2) of this section as a subterfuge for
providing covert information to prospective buyers or sellers. A purchase or
sale of public property is void if the seller or buyer of the public
property has received covert information from a member of a public body that
has not been disclosed to the general public in sufficient time for other
prospective buyers and sellers to prepare and submit offers. |
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“Mulligan said he ... doesn’t believe they necessarily make the return on investment necessary to keep funding them.” …The Middletown Journal, January 30, 2012
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acclaro
Prominent MUSA Citizen Joined: Jul 01 2009 Status: Offline Points: 1878 |
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Point well taken.
They also abuse the emergency sessions. Of course, it is obvious when ordinances are so freely violated, ergo election signs, bidding process, these practices are rising to the surface for all to see. An Exception: Closed Meetings or Sessions The general rule is that all meetings of public bodies must be open to the public. If a public body wants to hold a closed or "executive" session, it must identify a specific statutory exemption. Under the Ohio Open Meetings Act, a public body may hold a closed session when it is dealing with one of seven subject-area exemptions found in Ohio Rev. Code § 121.22(G). The seven exemptions are for meetings dealing with the following topics:
The exemptions make it permissible for a public body to close a portion of a meeting; they do not require it to do so. To close a session, a public body must identify the exemption justifying closure on the record during an open meeting, and a majority of members present must vote to hold a closed session. No formal action may be taken during a closed session. A handful of public bodies may close their meetings to the public when dealing with additional topics, listed in Ohio Rev. Code § 121.22(E). To do so, however, the members must unanimously vote to close the meeting. See page 14 of the Attorney General's guide for details. For more information on the exceptions to the open-meetings requirements, see the 2012 Sunshine Laws Manual and the Open Government Guide: Ohio. What Are Your Remedies If You Are Denied Access?If you believe that a public body has violated your rights, you can sue in state court. Under Ohio law, any person may file a lawsuit for violation of the Open Meetings Act in the court of common pleas for the county where the meeting in question took place. If you succeed in a lawsuit, you can obtain a court order requiring that a meeting or meetings be made open to the public in the future, that a public body satisfy its notice obligations, or that a public body provide access to minutes improperly withheld. In addition, if you go to court and win, the court must force the public body to pay you a $500 civil penalty, and it may order the public body to pay your attorneys' fees. However, if you go to court and lose, a court might order you to pay the winning public body's attorneys' fees, if it determines that your legal claim was frivolous. This would not happen unless your legal claim were utterly and obviously without any merit. If you want to file a lawsuit for violation of the Open Meetings Act, you must file your lawsuit within two years of the violation in question. In the event that you are denied access to a meeting or class of meetings, you probably want to pursue an informal resolution before filing a lawsuit, which ordinarily is a costly and slow solution. You should contact the public body in question and inform it that you believe your rights have been violated and that you are willing to bring a legal action. You should submit your complaint in writing whenever possible. If the public body continues to deny your request for access, you should consider filing a lawsuit. There may be public interest organizations that would be willing to take on your case for free or for a reduced rate. Please see the Finding Legal Help section for details on finding legal representation.
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'An appeaser is one who feeds a crocodile, hoping it will eat him last.' - Winston Churchill
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Mike_Presta
MUSA Council Joined: Apr 20 2008 Location: United States Status: Offline Points: 3483 |
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One of the problems is that Middletown's City Council has constantly mis-used the "executive session" provision of the Ohio sunshine law.
They use executive sessions for ANY discussions of real estate. However, executive sessions are only allowable: "if premature disclosure of information would give an unfair competitive or bargaining advantage to a person whose personal, private interest is adverse to the general public interest" Middletown's council often uses executive sessions primarily TO GIVE an unfair advantage to one party over other bidders (as in this case)!!! |
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“Mulligan said he ... doesn’t believe they necessarily make the return on investment necessary to keep funding them.” …The Middletown Journal, January 30, 2012
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Vivian Moon
MUSA Council Joined: May 16 2008 Location: Middletown, Ohi Status: Offline Points: 4187 |
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Blue7 Downtown Middletown Inc was not involved in this transaction. Mr Robinette and Mr Coon are the investors that placed the highest bids on the Bank One property. |
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blue7
MUSA Immigrant Joined: Jun 14 2011 Status: Offline Points: 33 |
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I just looked up DMI's board. I didn't realize MUM was represented there. The whole thing is odd, because if emails were exchanged then of course there would be a paper trail. Did they think DMI would just let it go? I realize I'm asking silly questions but I can't wrap my head around it.
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acclaro
Prominent MUSA Citizen Joined: Jul 01 2009 Status: Offline Points: 1878 |
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b7; I don't think Robinette & Co. would not keep a gift horse called MUM cash-flowing nearly 3x cost.
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'An appeaser is one who feeds a crocodile, hoping it will eat him last.' - Winston Churchill
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blue7
MUSA Immigrant Joined: Jun 14 2011 Status: Offline Points: 33 |
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Will TOT allow MUM to stay, whereas Robinette wouldn't? Either way it is stupid to risk that kind of exposure, even with good intentions.
Is MUM just using the space for the Applied Research dept? And aren't they all in the same circles? What made Robinette turn on his group? Or am I off on that assumption? Or am I reading this all wrong? |
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acclaro
Prominent MUSA Citizen Joined: Jul 01 2009 Status: Offline Points: 1878 |
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In theory:
Toast buys building at 135,000. MUM DEAL YIELDS 340,020. Net Gain for buyer- hurdle rate on capital outlay, less than 24 months. + benefit of space for Toast and incidental business of events. All in on this deal. |
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'An appeaser is one who feeds a crocodile, hoping it will eat him last.' - Winston Churchill
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