The check #214535 for the Rose Furniture Deal was written 10-04-2013 in the amount of $300,000 from the Downtown Fund.

It has now been amost a year since City Hall signed an agreement for the restoration of the Rose Furniture Building and the repair of the Ewing Building for $300,000.
Has anyone heard anything about when this project will start?
Why does City Hall sign these contracts without a requied completion date of these downtown properties?

Middletown City Council Meeting
8-20-2013

ORDINANCE NO. O2013-44

AN ORDINANCE AUTHORIZING A DEVELOPMENT AGREEMENT WITH

HISTORIC ROSE FURNITURE LLC.

WHEREAS, Historic Rose Furniture LLC (hereinafter “HRF”) is interested in purchasing and redeveloping the real property at 36 South Main Street (Parcel # Q6511005000017), commonly known as the Rose Furniture Building; and

WHEREAS, the City owns the Rose Furniture Building which currently is estimated to have a negative value; and

WHEREAS, HRF is interested in renovating the building in a manner consistent with the City Master Plan;

NOW, THEREFORE, BE IT ORDAINED, by the City Council of the City of Middletown, Butler/Warren Counties, Ohio that:

Section 1

The City Manager is hereby authorized to enter into a Development Agreement with Historic Rose Furniture LLC which is consistent with the terms set forth on Exhibit “A”, attached hereto, and makes no additional commitments by the City. The final agreement shall be in a form acceptable by the City Manager and the Law Director. The City Manager is further authorized to execute such other documents, including documents of conveyance that are necessary to complete the terms of the Development Agreement.

Section 2

For said purpose the Finance Director is hereby authorized to pay a sum not to exceed $300,000.00 from the Downtown Improvement Fund (Fund #481), which such sum is hereby appropriated to the accounts of 990 (481.990.54400).

Section 3

The real property in question is not needed for any municipal purpose.

It is hereby determined that the subject matter of this legislation is not of a general and permanent nature, does not provide for a public improvement, and does not assess a tax or payment.

Section 4

This ordinance shall take effect and be in force at the earliest date permitted by law.

_______________________________

Lawrence P. Mulligan, Jr., Mayor

1st Reading:

2nd Reading:_________________

August 20, 2013

Adopted:____________________

Effective:____________________

Attest:_______________________

Clerk of City Council

H:/Law/leg/2013 Leg/O Development Agreement with Historic Rose Furniture.doc