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Cincinnati State Building Sold!

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Vivian Moon View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Vivian Moon Quote  Post ReplyReply Direct Link To This Post Topic: Cincinnati State Building Sold!
    Posted: May 02 2014 at 8:32pm
Cincinnati State has sold the building that they now occupy for 5.8 million dollars as per the auditors office records.
This is the same building that City Hall sold to HEP-CS for $202,000.
So what will happen to the other two buildings that were given to Cincinnati State?

Sale Date

Sale Type

Sale Amount

Trans #

Seller

Buyer

28-APR-14

LAND & BUILDING

$5,800,000.00

3429

HEP CSTCC OHIO LLC

STORE MASTER FUNDING VI LLC

06-AUG-12

 

 

6719

CITY OF MIDDLETOWN OHIO

HEP CSTCC OHIO LLC

05-APR-11

 

 

2393

CITY OF MIDDLETOWN OHIO

CITY OF MIDDLETOWN OHIO

01-DEC-10

 

 

9622

VENTURE 3 ENTERPRISES LLC

CITY OF MIDDLETOWN OHIO

13-SEP-02

LAND & BUILDING

$550,000.00

7590

CINCINNATI GAS &

VENTURE 3 ENTERPRISES LLC

 

 

AUDITOR OF BUTLER COUNTY, OHIO
Cinergy Building

HEP-CSTCC

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Post Options Post Options   Thanks (0) Thanks(0)   Quote over the hill Quote  Post ReplyReply Direct Link To This Post Posted: May 02 2014 at 8:49pm
Well isn't that interesting, So what will Cinn. State do? It seems they have two options: pay rent to the new owners or pack it up and leave. And did Judy come clean about this sale? No I bet not. Nothing in the paper about this. I guess that's another deal they wanted to keep quite. Unbeleivable!!! I guess the rest of us are only on a "need to know"basis and we don't need to know.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Vivian Moon Quote  Post ReplyReply Direct Link To This Post Posted: May 02 2014 at 9:44pm
What about the $1 million dollar HUD Section 108 Loan to Cincinnati State?

Middletown City Council Meeting
1-08-2013

RESOLUTION NO. R2013-01

A RESOLUTION TO ESTABLISH THE HUD SECTION 108 LOAN FUND AND TO MAKE ADJUSTMENTS TO APPROPRIATIONS FOR CURRENT EXPENSES AND OTHER EXPENDITURES OF THE CITY OF MIDDLETOWN, COUNTIES OF BUTLER AND WARREN, STATE OF OHIO, FOR THE PERIOD ENDING DECEMBER 31, 2013 AND DECLARING AN EMERGENCY. (HUD SECTION 108LOAN FUND)

|
NOW, THEREFORE, BE IT RESOLVED
by the City Council of the City of

Middletown, Butler/Warren Counties, Ohio that:


Section 1

There is hereby established the HUD Section 108 Loan Fund.


Section 2

The following sums are hereby appropriated from the HUD Section 108 Loan Fund of the

City to accounts of the City for the purposes herein described as follows:

FROM: Unappropriated HUD Section 108 Loan Fund (Fund #261) $1,000,000.00

TOTAL HUD SECTION 108 LOAN FUND $1,000,000.00

TO: Accounts of 990 (261.990.52480) $1,000,000.00


Section 3

The Director of Finance is hereby authorized to draw warrants on the City Treasurer for

payments from any of the foregoing appropriations upon receiving proper certificates and

vouchers therefore, approved by the Board of Officers authorized by law to approve the same, or an ordinance or resolution of the City Council to make expenditures provided that no warrants shall be drawn or paid for salaries or wages except to persons employed by authority of and in accordance with law or ordinance.


Section 4

All legislation inconsistent herewith is hereby repealed.


Section 5

This resolution is declared to be an emergency measure necessary for the immediate

preservation of the public health, safety and general welfare, to wit: to permit the immediate appropriation of the loan funds upon receipt from HUD so they can be disbursed to Higher Education Partners as soon as possible shall take effect and be in force from and after its adoption.

_____________________________

Lawrence P. Mulligan, Jr., Mayor

Adopted: _January 8, 2013___

Attest: ____________________

Clerk of City Council

H:/law/leg/2013 Leg/r Creation and Approp HUD Section 108 Fund.doc

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Post Options Post Options   Thanks (0) Thanks(0)   Quote 409 Quote  Post ReplyReply Direct Link To This Post Posted: May 02 2014 at 10:01pm
Store Master Funding Vi, LLC is an Ohio Foreign Limited-Liability Company filed on April 17, 2014. The company's filing status is listed as Active and its File Number is 2288121.

The Registered Agent on file for this company is Ct Corporation System and is located at 1300 East Ninth Street Cleveland, OH 44114.
Every morning is the dawn of a new error...
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Post Options Post Options   Thanks (0) Thanks(0)   Quote acclaro Quote  Post ReplyReply Direct Link To This Post Posted: May 03 2014 at 10:39am
How does a building worth $300,000 be acquired for $5.8 MM.
 
QUESTIONS
 
1. Did Stone pay for C State to lease back the building for 30 years forward, based upon a contract?
 
2. Is the University of PHOEXNIX or GODADDY also based in Scottsdale, opening an online data center?
 
3.  Is there 1 Trillion barrels of oil under the building?
 
  
'An appeaser is one who feeds a crocodile, hoping it will eat him last.' - Winston Churchill
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Post Options Post Options   Thanks (0) Thanks(0)   Quote over the hill Quote  Post ReplyReply Direct Link To This Post Posted: May 03 2014 at 1:06pm
I guess they didn't read the part about Cinn./Hep paying $202,000 so I guess they were so exited about getting this building they threw caution to the wind and over bid to be sure they got it. LOL
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Post Options Post Options   Thanks (0) Thanks(0)   Quote over the hill Quote  Post ReplyReply Direct Link To This Post Posted: May 03 2014 at 1:10pm
And again did we even know it was on the market? Gosh I might have wanted to bid on it I think I have a half a million laying around here somewhere. I'll have check the old mattress again. LOL
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Vivian Moon Quote  Post ReplyReply Direct Link To This Post Posted: May 03 2014 at 10:40pm

Journal News
Posted:
12:00 a.m. Sunday, April 6, 2014


College expansion seen as job, economic driver

By Ed Richter

Staff Writer
   
MIDDLETOWN The arrival of Cincinnati State’s branch campus in Middletown has helped to cement the redevelopment of the city’s downtown core and is helping to revive it’s economy.

Michael Chikeleze, who has been the campus’s only director since it opened nearly two years ago, said the future is very bright in Middletown as Cincinnati State continues to build partnerships with the local business, industrial and heath care communities, the city and county and area school districts.

    “We’re excited to be in Butler County,” he said. “To meet the demands of the area, we’re adding more academic courses and programs, do workforce development and are looking to keep the cooperative education component focused.”

    He said the Middletown campus, which is Cincinnati State’s second-largest venue of its four campuses, is also working to align its academic program to where the jobs are.

“Our goal is to attract and keep students in the region as part of an educated workforce with the job skills that are in demand,” Chikeleze said.

    He said students can take the path toward a technical, two-year associate’s degree to get the skills needed to enter the workforce or take academic courses to transfer to a college or university with a four-year program. In addition, he said the programs at Cincinnati State are complimentary to those offered at Miami University Middletown.

    Cincinnati State Middletown offers 13 associate degree programs, five certificate programs and online courses, he said.

    Chikeleze said about 200 students were originally projected to enroll at the Middletown campus in fall 2012.

In nearly two years, the number has jumped to more than 600 students whose average is age is 30.

    “We’ve far exceeded our original enrollment projections,” he said. “Sustaining growth will be the challenge as well as managing change and keeping up with growth.”

    The college, which is Butler County’s first community college, currently operates out of the former Cincinnati Gas & Electric Co. building at 1 N. Main St. that is still owned by the city. Chikeleze said there are 25 full-time employees at the Middletown branch with another 40 to 50 adjunct faculty who teach a variety of courses.

    “We’re a full-service campus with classes, tutoring, financial aid, IT (information technology), police and academic advising,” Chikeleze said.

    He said the college is working on a strategic plan and foresees an enrollment of 2,000 to 3,000 in five years. In addition, Boston-based Higher Education Partners provided the private funding to assist Cincinnati State to establish the Middletown campus, with city and college officials, are already looking at acquiring additional properties to handle the future campus growth.

    “We’re in growth mode,” he said. “Our future is good. Over time, we’ll be better known in the Middletown area. The important thing is continue what we’re doing and become a known option in the next 10 to 15 years.”

    Chikeleze said the Middletown branch is working on building awareness and developing partnerships with various educational and nonprofit organizations.

    “We’re helping students and people change their lives,” he said. “We already have a lot of successful stories in providing an opportunity for someone to go to college.”

    City Manager Judy Gilleland said Middletown made a major investment in developing the Cincinnati State branch campus.

    “Over the next year, the city will have recouped all of its investment or more,” she said.

    Gilleland estimated that amount to be an additional $100,000 on top of the $450,000 the city originally invested. However, she did not have an estimated economic impact spin off from the campus but said it could be 10 to 20-fold over the city’s initial investment.

    “Cincinnati State has three other downtown buildings to grow into and I envision there will be more,” she said. “Cincinnati State will also compliment the programs at Miami University Middletown.”

    Gilleland, who is retiring in about two months, said the campus is important to the downtown community and is an important downtown anchor. One of her original goals when she was hired as city manager several years ago was to transform the downtown district into an arts, entertainment and education district.

    “That is coming to fruition and I’m pleased with the development of downtown,” she said.

Gilleland said the project was a win-win for the city and Cincinnati State’s administration and board of trustees.

    “They believed and embraced the city’s vision in redeveloping the downtown,” she said. “It’s also helping to reinvigorate the entire community.”

    While he isn’t sure if anyone really knows the impact Cincinnati State will bring to the region in the coming years, Rick Pearce said the college is working close with the business community to address their workforce development needs.

    “Many companies in our area need a highly specialized workforce with special skills, whether that be technical manufacturing or IT,” said Pearce, who is the president and chief executive officer of The Chamber of Commerce serving Middletown, Monroe and Trenton. “The current educational system, by no fault of theirs, is just not fulfilling those needs. The world is changing so rapidly.”

    Pearce said as new programs are developed and adopted into the curriculum at Cincinnati State and employers begin to hire those skilled individuals, you will see more students and facilities begin to see the benefits of those programs.

    “The obvious end result would be that we would have an influx of facilities move to the area, due to the fact that the area has a skilled workforce,” Pearce said. “I see Miami University and Cincinnati State complimenting each other with the services they offer. Many students are anxious to obtain the necessary skills and join the workforce quickly. What Cincinnati State has to offer could be perfect for them.”

    He said once those students are in the workplace for a number of years, they may discover new interests that take them down another path.

    “Miami University will be there ready to assist them in reaching their next set of goals,” Pearce said. “It’s going to be extremely beneficial to the area to have two post-secondary institutions of learning serving the educational needs of the next generation.”

    Some local school districts are already working to become affiliated with Cincinnati State.

Last month, the Middletown Board of Education approved the opening of an enrollment center for the college at Middletown High School.

    The Middletown board will be providing space at the high school for students to talk with college admission representatives, discuss financial aid options as well as assist seniors with dual enrollment courses or to sign up for classes at the downtown college.

    The Franklin Board of Education last month approved a memorandum of understanding that would create a dual enrollment program with Cincinnati State, said Superintendent Michael Sander.

    He said in addition to students being able to earn dual credits for high school and college courses, Franklin teachers would be working with the college to develop a syllabus that would be rigorous enough to meet Cincinnati State’s standards. Sander said it would also create an opportunity for Franklin teachers to be approved to teach at Cincinnati State.

    “I’m not sure how many teachers would be participating, but I think there will be a fair number,” Sander said. “Our juniors and seniors like to be academically challenged.”

    He said the district was moving slow on the memorandum of understanding rather than rushing things through. Sander said the Warren County Educational Service Center would coordinating the program for the county’s school districts with Cincinnati State.

Then how did HEP-CS sell a building located at 1 North Main St, Middletown, Ohio, that they didn’t own ?
The deed was signed on April 23, 2014.

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Post Options Post Options   Thanks (0) Thanks(0)   Quote VietVet Quote  Post ReplyReply Direct Link To This Post Posted: May 04 2014 at 9:24am
"MIDDLETOWN — The arrival of Cincinnati State’s branch campus in Middletown has helped to cement the redevelopment of the city’s downtown core and is helping to revive it’s economy."

Good comedy for a Sunday morning from "Always Faithful" Eddie. So CS has helped CEMENT the redevelopment of downtown ehh? Must be so as there has been a ramp up of foot traffic down there,so much so that you have to walk out in the street as the sidewalks are so crowded. An influx of hundreds of new businesses opening with all having great success and an abundance of clientele, creating jobs. The arts community has attracted people from around the world with Beau Verre leading the way. What more could one ask?

See Eddie. I can write crapola too and publish it. Not that hard and you don't even need a journalism degree from a university to do it. Why, it's so easy even a city manager, council person or a mayor could, eventually, with remedial training, develop the skills.

"Michael Chikeleze, who has been the campus’s only director since it opened nearly two years ago, said the future is very bright in Middletown as Cincinnati State continues to build partnerships with the local business, industrial and heath care communities, the city and county and area school districts."

No! The CS building (I wouldn't call it a campus), has done all that in just two years! Wow. You can tell there is a wealth of activity. It's been a proverbial beehive of activity....a real eye-opener.

"He said the college is working on a strategic plan and foresees an enrollment of 2,000 to 3,000 in five years"

Now wait a minute....When CS opened, the number was 5000 in five years. What happened? So, lowering the number to meet the goal is a celebration if met? How? In three years, with the enrollment at it's current pace, will we hear that the goal has been reduced yet again to 1000? If so, doesn't that kinda take the credibility out of this whole goals thing? How about not publishing a number and letting the market dictate what is attainable?

Nope, MUM is still the big brother here in town, and, as I remember, got off to a much faster start in 1966-67. How about promoting the success of MUM rather than to place all the emphasis on a downtown idea that has been slow to start and may never reach full impact.

Anyone know how one could take a building worth 300 thou and convert it into a sale of 5 mil as acclaro has suggested. Or, as Vivian points out, one can sell a building they don't own? Pure magic, like alot of the shady crap that goes on downtown.

The people running this city ____________________(fill in the blank because my response would have been too offensive for a public forum)

I'm so proud of my hometown and what it has become. Recall 'em all. Let's start over.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Vivian Moon Quote  Post ReplyReply Direct Link To This Post Posted: May 04 2014 at 11:47am

Cincinnati State Middletown timeline

September 2009: Local businessman and former city councilman Perry Thatcher meets with Cincinnati State’s resident chef to cook at the Manchester Inn. A deal to bring a Cincinnati State branch campus begins in earnest.

Oct. 26, 2010: Agreement announced at Cincinnati State board of trustees meeting that the city of Middletown and the technical and community college will negotiate for the city to buy and then sell downtown buildings for a potential branch campus. College officials expressed interest in the CG&E building and the Manchester Inn.

October 2011: The city purchased the former CG&E, Bank One, First National, Masonic Temple buildings for $300,000.

Dec. 21, 2010: City Manager Judy Gilleland announced that Cincinnati State officials are only consider using of the city-purchased buildings: the former CG&E building.

June 28, 2011: An independent market study revealed that there was an adequate base of students to proceed with a downtown Middletown campus.

Aug. 14, 2011: The goal to open in the fall of 2012 is announced.

April 5, 2012: Cincinnati State and Higher Education Partners finalized its contract to bring the county’s first community college downtown Middletown. The deal has Higher Education Partners funding the construction and conversion of two buildings into a community college campus for the Clifton-based Cincinnati State. The 20-year deal between the two has four five-year extension options.

April 13, 2012: City Manager Judy Gilleland signs off on selling the former CG&E building for $202,000 and donating the former senior center to Higher Education Partners. Both buildings will play a role in the future downtown Middletown campus of Cincinnati State, though the CG&E building will be the main school’s campus in the city.

April 17, 2012: Cincinnati State hires its first Middletown campus employee, Monetta Pennington, to be the director of marketing and community outreach.

May 4, 2012: Interior demolition and construction begins at the Cincinnati State Middletown campus at 1 N. Main St.

Aug. 9, 2012: Cincinnati State names Michael Chikeleze, an associate dean in the college’s business technology division, the inaugural director of Cincinnati State Middeltown.
April 23, 2014: HEP-CS sells CG&E building to Store Master Funding for 5.8 million dollars.

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Post Options Post Options   Thanks (0) Thanks(0)   Quote Vivian Moon Quote  Post ReplyReply Direct Link To This Post Posted: May 05 2014 at 5:23pm

Posted: 4:54 p.m. Monday, May 5, 2014

Former Cinergy building sold for $5.8 million

Deal won’t impact operations at Cincinnati State Middletown

By Rick McCrabb

Staff Writer

    MIDDLETOWN The sale of the former Cinergy building, where Cincinnati State Middletown is located, will allow High Education Partners to continue renovations and start remodeling the former Middletown Area Senior Citizens Center, an official told the Journal-News today.

    Michael Perik, chief executive officer of Higher Education Partners (HEP), said the building at 1 N. Main St. was recently sold for $5.8 million, or $5.6 million more than it was purchased for more than two years ago. But he was quick to point out that HEP has spent $5.5 million renovating and purchasing equipment for Cincinnati State Middletown.

    He said HEP also paid off a $1 million loan from HUD.

    Now with the money from the purchaser, Store Master Funding, which is based in Scottsdale, Ariz., HEP can continue expanding in the Middletown market, Perik said. He said HEP will begin renovating the former senior citizens building, hopefully in time for next fall’s classes.

    Michael Chikeleze, director of Cincinnati State Middletown, said the sale of the building will not impact the daily operations of the college.

    HEP purchased the building from the city for $202,000 in April 2012.

In October 2011, the city purchased the former CG&E, Bank One, First National, and Masonic Temple buildings for $300,000.

    On April 5, 2012, Cincinnati State and Higher Education Partners finalized a contract to bring the county’s first community college to downtown Middletown. The deal had Higher Education Partners funding the construction and conversion of two buildings into a community college campus for the Clifton-based Cincinnati State. The 20-year deal between the two had four five-year extension options.

    A week later, Middletown City Manager Judy Gilleland signed off on selling the former CG&E building and donating the former senior center to Higher Education Partners.

 

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