MIDDLETOWN MOVING FORWARD UPDATE
Printed From: MiddletownUSA.com
Category: Middletown City Government
Forum Name: Economic Development
Forum Description: Local government efforts to develop the local Middletown area economy.
URL: http://www.middletownusa.com/forum/forum_posts.asp?TID=6112
Printed Date: Apr 27 2024 at 2:52am
Topic: MIDDLETOWN MOVING FORWARD UPDATE
Posted By: Vivian Moon
Subject: MIDDLETOWN MOVING FORWARD UPDATE
Date Posted: Jun 04 2015 at 7:51pm
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Posted: 5:59 p.m. Thursday, June 4, 2015 CORE Fund property acquisitions growhttp://www.journal-news.com/news/news/middletown-community-group-raising-funds-to-invest/njXXM/" rel="nofollow - The community group Middletown Moving Forward last year obtained nonprofit status and the Journal-News learned it’s still seeking money from donors to create a loan fund for investing in key city revitalization projects. Efforts could make the organization — modeled after other funding programs such as Cincinnati’s 3CDC, Hamilton’s CORE Fund, and the Catalytic Fund in Northern Kentucky — a bigger player in local development, its leaders say. Gap financing from Middletown Moving Forward, coupled with a downpayment and private bank loan can help developers raise the capital they need to make job-creating investments such as renovating empty buildings. The goal is to raise a total pot of $5 million worth of commitments from financial institutions, community foundations or other sources, said the group’s Interim Director Calista Smith. City government has not pledged any taxpayer dollars at this time for the investment fund, Smith said. “Right now we have been in heavy rotation visiting regional investors… promoting our business plan,” Smith said. “The process can take a long time for those commitments to come through so right now we’re in a waiting pattern… but we’ve been encouraged by response to our plan.” “We still think for the Middletown area we’ll focus much more on the gap financing,” she said. — Staff Writer Chelsey Levingston |
Replies:
Posted By: Dean
Date Posted: Jun 04 2015 at 9:39pm
| Guess this explains why Robinette, and others haven't done anything on the properties, as they await MMF to find funding for them at 0% interest and all bank and investor risk, not the front buyers for city council. Strange how the city was all over Grau from Chicago to give the Manchester away for $1., yet city splashes the Nuisance Law around to tame those 'out of county', 'out of state' landlords. They'll be in waiting mode for years for seed cash. Time for a ROAD TRIP! |
Posted By: 409
Date Posted: Jun 04 2015 at 10:40pm
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The majority of the action downtown seems to be around the Sonshine building! That is setting up the blown over orange cones placed on the south & west sides to protect pedestrians from falling brick!  ------------- Every morning is the dawn of a new error... |
Posted By: VietVet
Date Posted: Jun 05 2015 at 6:07am
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"City government has not pledged any taxpayer dollars at this time for the investment fund, Smith said" What a minute, how about past pledges from the city. What about the 75 grand given to MMF a while back to purchase the Sorg Opera House? We haven't forgotten about that have we? Was it ever paid back to the city? How about the loan to the Beau Verre people? Has it been paid back to the city? And, how about the city taxpayer money given to Robinette for the Rose fiasco? 300 thou or so wasn't it? Where did that go? Was there city money used for the apartments being built above the bank? Believe this is a Robinette project also. The Manchester given away for a buck and the Sue Whitman arts building area giveaway by the city. With the MMF's intention to loan money to purchase property in the city and renovate it for the purpose of job creation, there should be no need for us to hear about the city, using taxpayer money, to purchase property and there is really no reason for the city to be in the real estate business, right? With this MMF loan fund, there should be no need for the city to use taxpayer money to help business. Let's see how long this lasts. What happens if the investor, wanting the MMF loan, doesn't have a plan that will match what the MMF wants for the city? Is this a way for the MMF to control what is allowed in town and if so, doesn't that stifle free enterprise and severely limit business diversity and selection here? Just asking the business people how this works. ------------- I'm so proud of my hometown and what it has become. Recall 'em all. Let's start over. |
Posted By: Dean
Date Posted: Jun 05 2015 at 8:17am
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'Promoting our business plan.' Don't believe there is a business plan. It isn't on their website. Northern Ky and Hamilton have something that works. MMF is a follower, typical of Middletown, a me too. No need to worry about getting funds that fit within an agenda. Hard pressed to have commitments for funding.After a year with a new city manager, besides a heroin summit, fireworks in July, and a nuisance law being negotiated, what re-imagine results have been produced? Not seen anything MMF has done but paid for the boondoggle to Greenville. http://www.middletownmovingforward.org/index.php?option=com_content&view=article&id=4&Itemid=109" rel="nofollow - http://www.middletownmovingforward.org/index.php?option=com_content&view=article&id=4&Itemid=109 |
Posted By: spiderjohn
Date Posted: Jun 07 2015 at 12:38pm
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Hey fact guy/someone-- Can u list the current rosters for MMF and DMI? Their accomplishments ? What they r working on? And their total expense to citizens so far? |
Posted By: Vivian Moon
Date Posted: Jun 08 2015 at 8:58am
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Spider City Hall pays part of the salary for the director of Downtown Middletown Inc. DMI is also in charge of the city $50,000 facade grants for the downtown core. The facade grants changed several years ago from $5,000 for each business to a matching grant for any business in the core. Accomplishments can be seen as you dive around the downtown area.
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Posted By: wannaknow
Date Posted: Jun 08 2015 at 5:53pm
| Vivian, please call me 422-0845. I have lost your number and I have a problem with the folks at Donham Plaza again. Hoping you can advise me. Karen, who still thinks you are the hero that saved Pioneer Cemetery |
Posted By: Mike_Presta
Date Posted: Jun 08 2015 at 11:40pm
I drove through our booming former downtown around 4:30 pm this afternoon. There were SEVEN vehicles parked on Central Avenue, between Main Street and Curtis Street! ------------- “Mulligan said he ... doesn’t believe they necessarily make the return on investment necessary to keep funding them.” …The Middletown Journal, January 30, 2012 |
Vivian Moon wrote:Posted By: Vivian Moon
Date Posted: Jun 09 2015 at 9:26am
| United Dairy Farmers is the only booming business in the downtown area where you will see any cars waiting in line. |
Posted By: VietVet
Date Posted: Jun 09 2015 at 11:07am
Don't get too excited Mike. Rumor has it there was an accident the other day involving a car hauler and a pick-up truck. It seems the pick-up hit the trailer at just the right angle to dislodge the 7 cars that were on the trailer and they fell into the parking spaces below. They were unoccupied and as such, were not contributors to "filling the streets with downtown foot traffic". Apparently they were going to auction and the driver was going to slip on down to the local fru fru place to grab him a 20 buck sandwich with a pickle and chips and do some wine sippin'. Heard he wanted to see how the better half lived. ------------- I'm so proud of my hometown and what it has become. Recall 'em all. Let's start over. |
Posted By: itsamee
Date Posted: Jun 09 2015 at 11:46am
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Hey now, I checked out the new coffee place. All three times I have been there it has been pretty full. ------------- Itsa me, mario! |
Posted By: Vivian Moon
Date Posted: Jun 09 2015 at 12:11pm
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That's some really good news about this new business. I wish them them the best. |
Posted By: wannaknow
Date Posted: Jun 09 2015 at 9:02pm
| I love the new Crab Apple Book Store. It is clean and pleasant. Offers both new and used books, coffee which is always good and some beautiful paintings from some of the locals. |