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Downtown Property Acquisition Middletown Style
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Nelson R. Self View Drop Down
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Joined: Oct 03 2009
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Points: 279 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Nelson R. Self Quote  Post ReplyReply Direct Link To This Post Topic: Downtown Property Acquisition Middletown Style
    Posted: Dec 31 2009 at 1:57pm
Question:  What Ohio municipality recently acquired a long vacant, dilapidated and non-maketable downtown commercial property for $1.00 only to find out that the cost of asbestos abatement and demolition would approach $300,000 ??
Answer:  The City of Middletown.
Comment:  I guess that's one reason why senior City staff welcomes the receipt of millions in HUD funds (taxpayer's money) to justify these schemes ??
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jag123 View Drop Down
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Points: 143 		Post Options Post Options   Thanks (0) Thanks(0)   Quote jag123 Quote  Post ReplyReply Direct Link To This Post Posted: Dec 31 2009 at 2:40pm
We can't tear down the Studio, either. We paid $100,000 for that.Sleepy
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SupportMiddletown View Drop Down
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Points: 181 		Post Options Post Options   Thanks (0) Thanks(0)   Quote SupportMiddletown Quote  Post ReplyReply Direct Link To This Post Posted: Dec 31 2009 at 8:08pm
What property are you referring to Nelson?
 
By the way, jag, the Studio only cost $1.00. The building on the other side of Barb's Pub cost $100,000.
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Bobbie View Drop Down
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Points: 288 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Bobbie Quote  Post ReplyReply Direct Link To This Post Posted: Jan 06 2010 at 9:32am
Why did we not have our building inpsectors check out the building before purchasing it? 
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randy View Drop Down
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Points: 1586 		Post Options Post Options   Thanks (0) Thanks(0)   Quote randy Quote  Post ReplyReply Direct Link To This Post Posted: Jan 06 2010 at 10:16am
I also would like to know what building Nelson is talking about.
Call me for a www.CameraSecurityNow.com quote 513-422-1907 x357
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Nelson R. Self View Drop Down
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Points: 279 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Nelson R. Self Quote  Post ReplyReply Direct Link To This Post Posted: Jan 06 2010 at 10:19am
I'm referring to the Studio Theater (Strand Theater) property on Central Avenue.  What a nice tax write-off for the prior owner as it was "donated" by them for only $1.00. Wink  What a financial burden now for the City of Middletown !!.
 
As Miss Vivian has said many times recently, watch for HUD money to be "shelled out" for other vacant, dilapidated, non-marketable properties in the "downtown" too !!
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randy View Drop Down
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Points: 1586 		Post Options Post Options   Thanks (0) Thanks(0)   Quote randy Quote  Post ReplyReply Direct Link To This Post Posted: Jan 06 2010 at 10:41am
I guess my next question would be how do you know this Nelson? Is this information on the cities web site and I missed it or is this from a source you have in the city building? If it is a source why not tell them to come here and share some info with us.
Call me for a www.CameraSecurityNow.com quote 513-422-1907 x357
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Nelson R. Self View Drop Down
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Points: 279 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Nelson R. Self Quote  Post ReplyReply Direct Link To This Post Posted: Jan 06 2010 at 11:03am
Mr. Robinette was the person who noted the likely high cost of demolition of the Studio/Strand Theater.  This was the City's rationale for acquiring the church property on Central Avenue and then demolishing it along with the Barb's Pub property.  A respected former President of the Middletown Board of REALTORS was the person who told me about the $1.00 purchase of the Studio/Strand Theater and the $300,000 estimated cost to abate asbestos and demolish this noteworthy downtown building.
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Nelson R. Self View Drop Down
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Points: 279 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Nelson R. Self Quote  Post ReplyReply Direct Link To This Post Posted: Jan 06 2010 at 11:06am
Miss Gilleland and Mr. Robinette have both spoken about this matter on several occasions at recent City Council meetings.  Additional coverage was in the Middletown Journal.  When I was notified of the Central Avenue property transaction by my realtor friend, I submitted the first of several posts on this topic.
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randy View Drop Down
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Points: 1586 		Post Options Post Options   Thanks (0) Thanks(0)   Quote randy Quote  Post ReplyReply Direct Link To This Post Posted: Jan 06 2010 at 11:31am
I have attended every meeting for a very long time and I have never heard anyone say that it will cost that amount to demolish the theater.
Call me for a www.CameraSecurityNow.com quote 513-422-1907 x357
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SupportMiddletown View Drop Down
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Points: 181 		Post Options Post Options   Thanks (0) Thanks(0)   Quote SupportMiddletown Quote  Post ReplyReply Direct Link To This Post Posted: Jan 06 2010 at 12:12pm
Originally posted by Nelson R. Self Nelson R. Self wrote:

Mr. Robinette was the person who noted the likely high cost of demolition of the Studio/Strand Theater.  This was the City's rationale for acquiring the church property on Central Avenue and then demolishing it along with the Barb's Pub property.  A respected former President of the Middletown Board of REALTORS was the person who told me about the $1.00 purchase of the Studio/Strand Theater and the $300,000 estimated cost to abate asbestos and demolish this noteworthy downtown building.
 
The big price tag was largely due to the common wall shared between Barb's Pub and the church property. Thus, they acquired the church property so that the common wall could just be demolished along with Barb's Pub. Once the project expanded to do the church as well, there was not enough funds to do all three properties. Thus, they prioritized the church and Barb's and will demolish the Studio when more funds are available this year.
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Nelson R. Self View Drop Down
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Points: 279 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Nelson R. Self Quote  Post ReplyReply Direct Link To This Post Posted: Jan 06 2010 at 2:05pm
Randy -
 
May I suggest that you re-read past City Council meeting minutes or review TV Middletown videos of these meetings regarding these Central Avenue properties.
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