409,

I don't agree this won't go through, although it surely was done totally incorrectly, no due diligence until back-end. If this building is appraised for $800,000, which seems staggeringly over valued, and the city buys it for $225 Kk, they said they'd issue bonds for restoration, and lease it back to Cincinnati State.

Hermes....what the city needs is a new position created down at Gilleland's Isle. A DIErector of Manure Spreading. Say about the $90,000/year range with at least $100,000 worth of benefits and retirement. Selection shouldn't be a problem for them down there as just about everyone is qualified to do some type of spreading. Some demonstrate it each day. Just pull the money from the "General Fund"....you know, the fund where money goes in and out faster than water through a goose. Hey, the schools can do it with "Spokesperson" Albericco at $98 thou a year. Why not the city?

By my reckoning, money spent/saved on the Swallen's Building and parking garage have a while to go before the savings offsets the spending and we're actually saving some money.

Using the numbers given above, we spent $90k a year on upkeep on these two structures, which seemed to be more than we wanted to spend annually. So city government determined that the structures weren't cost effective and rather than continue to spend $90k annually on upkeep, we would demolish the structures at a cost of $1.2m.

I can't remember the exact date the buildings came down but let's just say that by July 1st 2010 the spending mode had switched from maintaining to demolition (because it is an easy date to work with).

So we spent $1.2m to save $90k annually. In the long term, it makes sense financially. But to me, we don't save anything until that $1.2m laid out for demolition is paid off. So $90k into $1.2m is 13-1/3 years, so using that July 1 date that means we won't be actually saving any money on this until November 1, 2023.

(Obviously this is very general because it isn't exact dollar amounts to the penny. And if you want to lump in the money spent on upkeep ever since the city took over the vacant building and the parking garage was uneeded because the City Centre Mall was demo'ed...)

Fired and sued!

In reality, in the private sector, Ms. Gilleland would have been fired within a week of this situation, and probably held accountable for the misuse of funds. Just like the public sector, and the hiring of the MHS football coach. This guy makes $75,000 annually, most of it reporting truancy and absentee problems. I can't wait to see the whole public sector revamped and re-engineered, what an incredible waste. hy oh why, did I not get a gig in the public sector as a city manager. Ms. Gilleland pulling down $135,000 annually for doing nothing. 

"Attendance Coordinator"???

Hermes....I would think, judging by the behavior (especially lately), that this new Attendance Coordinator (Krause had this job too, didn't he?) will have his hands full trying to keep track of all the kids that decide to be no-shows at school each day. Between the hair burning, assaults on bus monitors, kids fighting on the bus and the no-shows at school, I think we have us a jim-dandy, out-of-control school district where issues are either being handled with no affect or are being completely ignored. No one wants to clamp down on the little monsters anymore. What they need are some ex military drill instructors to ride the buses, giving the kids the same treatment that the recruits get in basic. That ought to scare the hell out of 'em. Too bad they can't inflict some pain as a wake-up call. Again, kinder-gentler doesn't work folks.....not on the trouble-makers. They are laughing at you school officials. JMO

Cincinnati State trustees leery about Middletown campus project

By Jessica Heffner, Staff Writer Updated 7:22 PM Tuesday, November 23, 2010

CINCINNATI — Can Cincinnati State Technical and Community College afford a Middletown campus? That is the question its board of trustees said needs to be answered before it will be ready to launch its new campus.

Documentation was included in the board of trustees packet Tuesday for Cincinnati State to use up to $20 million through government bonds for improvements and equipment upgrades to the Manchester Inn, CG&E building and former Middletown Senior Center. The funds also would be used for possible construction at the 3.2-acre lot at 105 Main St. — the former site of the Swallens Department Store and city parking garage.

Dan Cayse, vice president of strategic initiatives and entrepreneurial development for Cincinnati State, said the information was included as an estimate to allow the school to collect planning and engineering costs associated with the properties through bonds if and when the debt is issued for the project.

Talks have centered around Middletown issuing bonds to fund renovations, which would be repaid over time through lease payments — similar to the new Greentree Health Sciences Academy. The board is not expected to vote on the information. No final estimates have been done and Cayse said he did not expect a final financing agreement to be reached with the city until at least January 2011.

Many trustees expressed feared the college may be entering “into a money pit” with a new campus in Middletown.

Trustee Robert McKenna Jr. said in light of possible state funding cuts, he had concerns of updating buildings in a city he called “a museum.”

“Transforming a museum into a profit-making organization is going to be a task,” he said.

School President O’dell Owens said he has no intention of entering into an agreement that would hurt the school financially. He added Middletown officials are aware of the debt constraints placed on Cincinnati State by the state and no deal will be made unless it can satisfy those requirements.

Michael Oestreicher, trustee chairman, said trustees need more information on project costs for both renovation and operation.

“I think it’s pretty clear from the comments we are not against the project, but we are extremely concerned with the liability of this project,” he said.

The college is collecting construction estimates. However, Cayse said initial projections show the new campus would not break even for a few years.

“In my opinion, it doesn’t necessarily have to. I believe we’re going to have to find partners to offset those costs to turn things around three to four years from now.”

Middletown already is working on securing buildings for the new campus. City Council voted last week to spend up to $500,000 from the Downtown Improvement Fund to acquire five buildings and the vacant lot.

Cayse said he expects that deal to close within the next 30 days.

Cincinnati State has only delayed this until they can have an outside contractor access exactly how much money is reuired for renovation. Its a bad deal made by people whom know little about accountability and assessment. That includes Cincinnati State. Whay on earth, woud you lease a hotel that is no longer functioning, 7-8 miles off the interstae, when you could have one built, or lease space and have it retro-fitted with exactly what the needs and requirements to be.

Well, they went and "done" it now.......

City closes deal on Manchester Inn

MIDDLETOWN — The city is now the owner of the historic Manchester Inn & Conference Center, but its future as a hotel and banquet facility still remains uncertain. (how much was that amount to bring it up to speed with repairs and updates?)

"However, the city is forgiving the unpaid portion of a loan granted to the Manchester in 1993 as well as other debts totaling $154,782.45". Uh, shouldn't Ms. Garrett and the Thatcher estate be paying this in return for the city taking all this "mothballed", apparently non-usable, essentially worthless property off the estate's hands?

"Within the next month, Cincinnati State is expected to make a decision on which buildings it will use for the branch campus, Gilleland said". (IF....IF the Cincinnati State trustees vote to proceed with this at all Ms. Gilleland). Still to this day, no guarantee that they will start a campus using these buildings. Only a handshake as Mulligan once said in a meeting. Scary finances. Spend all that money to entice a college to come to town. Doubt if the mothballed buildings will ever be used and will fall into disrepair, eventually having to go the route of the wrecking ball from Raush. Looks like too large of risk, too much money spent on a "wing and a prayer". What else is new? Then again, the city officials said years ago that the city would never get back into the real estate business again, didn't they?

Oh my! The Manchester Inn bought $50,000 under budget. Wasn't it appraised for $800,000. and bought for $175,000, with about $155,000 of "loans given" forgive, in other words, wink, you don't have to pay tye money borrowed back to the tax payer Thatcher estate and Mr. Akers. So, property appraised at $800,000 is bought for $175,000. Is anyone surprised, if so, please raise your hand.