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BANK ONE..TO SELL OR NOT ?

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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: Jun 04 2014 at 2:32pm
I just thought it was interesting Beau-Verre was privy to the stained glass before anyone else was. Insider knowledge? Don't know.
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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: Jun 04 2014 at 2:39pm
The city's standards, that's funny. What's going on with the Rose building? Up to city standards? Studio facade? Up to city standard? High grass all over town on empty lots? Up to city standards? Don't get me started.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote acclaro Quote  Post ReplyReply Direct Link To This Post Posted: Jun 04 2014 at 2:48pm
City knows who the Bank One building will be sold to. They control that by setting standards which allow them to accept low bidder. They won't sell if they don't find the right buyer. 
'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 acclaro Quote  Post ReplyReply Direct Link To This Post Posted: Jun 04 2014 at 2:54pm
When does the MUM annual lease end. Is it end of June? If factguy is right, that's quite a bit of capital that would go away, which also would bring property value down associated with tenant occupancy.
'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 Vivian Moon Quote  Post ReplyReply Direct Link To This Post Posted: Jun 04 2014 at 3:14pm
MUM signed a five year lease in order for them to get the $50,000 in upgrades last December.

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Post Options Post Options   Thanks (0) Thanks(0)   Quote Dean Quote  Post ReplyReply Direct Link To This Post Posted: Jun 04 2014 at 3:36pm
The term of the agreement has a provision in it the terminates the Agreement if the city sells the building if MUM wishes to move. Also, as the city made improvements to the building for $50,000, all lease payments associated with MUM will continue to go to the city unless Middletown allows the funds to be passed through to a buyer.
I agree with the posters the city has this building locked down. GeoCRE will not get the building, nor any bidder but thje one the city finds matches its vision downtown. 
Someone posted a document Doug Adkins co-wrote with UC on section 8. Does anyone know it cost as much for the school buildings as Doug Adkins and UC had in their paper it would cost to pave every foot of asphalt in Middletown. Doesn't say much for the voters does it.  
Congratulations to Marcia Andrew for getting the levy passed. A major victory for the district.          
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Factguy View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Factguy Quote  Post ReplyReply Direct Link To This Post Posted: Jun 04 2014 at 4:16pm
Not quite true Dean: the city would get their $50,000 back, but sell would not be limited to allow MUM out of agreement. But, city will determine how building is used; price means nothing.

Mr. John, they like your donations (Cincinnati State and MUM) and input to concerts. But, that won't get you the building.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote spiderjohn Quote  Post ReplyReply Direct Link To This Post Posted: Jun 04 2014 at 5:08pm
probably so, SWO75--that would mean that with purchase price + improvements + taxes etc., the new owners might stick their heads above water after approx. 75% of that lease. Best of luck to them! Business was marketed privately for 3 years to remain as was, but no realistic takers--those with $$ didn't care for the city or neighborhood and stated that they probably couldn't improve sales. Still much praise to Stefano's, BBQ Central, Java Js, Jug and the very nice hair/nail stylists in the neighborhood. All hard-working locals who have built their successes through long hard work WITHOUT dependency on taxpayer funding. The real neighborhood success story in the city.

Prior owners held on longer by a decade than anyone similar in the area, and had 87 great years within the city, working with most all local NEEDY groups(+ some that weren't that needy!) beyond those mentioned by factguy(just ask around). Age of prior owners, the building and equipment + demographic changes made it sensible to call it quits. Asked someone about new venue refrigeration, was told that no inside low/mid-temp back storage--only refrig will be self-contained units, so probably little to no perishables(dairy/frozen) and no fresh meat/produce/deli.

Look for at least one DG to close locally. Was in the Marsh location recently and was surprised to see how cluttered/dated it was. nfl imo. Nice Meat dept. Was offered to me repeatly for a ridiculous amount just to take over(Marsh does not own the building). The holding co. currently owning is not interesting in operating retail or wholesale, and is closing all locations with expiration of leases(look to Hamilton and Franklin to reference). I expect some smaller retailer to eventually take it over, however Whole Foods, Costco, Sam's Jungle or DLM won't be coming to middietown. That Marsh center could be another eventual casualty after the CVS,DG and probable Marsh exit--creating a mega food desert.

I think the right local entity could purchase the Bank One building. Someone with a long, successful local business history. Face it--the property is surrounded by the Rose disaster, Hope House, the Sorg Opera House(Colonial Theater) fiasco, empty 5/3 and 1st nat buildings, vacant former Hysterical Society---the area bar is pretty low.

The "silent" and "loud" citizenry has lost patience with the admin, particularly Planning. Wouldn't be surprised to see at LEAST 3 OF 5 councilmembers go against recommendation of Planning with the right massaging.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote acclaro Quote  Post ReplyReply Direct Link To This Post Posted: Jun 04 2014 at 5:29pm
Here is the best investment advice given associated with commercial or residential property in Middletown, by Mike Presta. Don't waste your money fool, paraphrasing someone famous with a mohawk and gold chains weighing 25 lbs around neck.

"Perhaps the situation can be best summed up by considering our City’s motto: “Middletown: Bright past, brighter future!”

Middletown’s “bright past” now exists only in the fading memories of its senior citizens and in the black-and-white photos in the dusty archives at Middletown…oops, Mid-Pointe…Library.  It is known to younger residents only through fondly told tales by their elders at family gatherings.  

Middletown’s “bright future” is nothing more than a scam foisted upon the ignorant by City Hall, with absolutely no basis in fact…simply “labored nothings in so strange a style, which amaze the unlearned, but make the learned smile”.

Speaking of the library, please recall how “MIDDLETOWN” Library joined forces with their cohorts at City Hall and the School Board to pass a library levy upon the citizens of Middletown…then promptly dropped “Middletown” from their name (in favor of “Mid-Pointe”) and began using the funds from the levy to expand into Monroe, Trenton, and West Chester—places where the schools actually teach all their children to read!!!  Once they passed their tax on the people of Middletown, they didn't even want to be associated with the name “Middletown”.  (How telling is that, F-guy???  Why don’t you rail against them???)

Middletown Library becomes Mid-Pointe Library, dropping the Middletown name.

Middletown Hospital becomes Atrium Medical Center, dropping the Middletown name.

AK moves their corporate headquarters from Middletown to West Chester.

Our once strong paper companies, with flagship plants here, invest instead in their other plant sites and close or downsize their Middletown operations.

All around us new medical and high tech facilities spring up, but Middletown’s highly touted “medical and high-tech campus” is avoided.

Entire new I-75 interchanges are constructed and developed to the north and south of us, yet investment at our interchange is nil.

Prestigious name brand retailers are opening new stores all up and down I-75 just to the north and south of us, and we get only dollar stores.

Dollar-for-dollar, one can get more house for the money in Middletown than anywhere else for miles around, yet quality homes at bargain prices sit unsold for years, while buyers pay 30-50% more for comparable homes just a few miles away, and only the poor look for homes to rent in Middletown.

Does anyone see the pattern here…and does it actually look like a “brighter future”???"

'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: Jun 04 2014 at 5:42pm
Well maybe the new city manager(who ever that may be) will let Marty go. We all know it's time for that to happen.
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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: Jun 04 2014 at 5:44pm
Well maybe the new city manager(who ever that may be) will let Marty go. We all know it's time for that to happen. Judy's leaving so she can't protect him any more like she has in the past.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Factguy Quote  Post ReplyReply Direct Link To This Post Posted: Jun 04 2014 at 6:16pm
Bank One building is a gold mine. Cincinnati State has interest in turning part of it into Cincinnati State Credit Union. Marty is going to be around for another 10 years. Council won't get rid of Marty, nor will the city manager.     
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Vivian Moon Quote  Post ReplyReply Direct Link To This Post Posted: Jun 04 2014 at 7:52pm
Bank One building is a gold mine. Cincinnati State has interest in turning part of it into Cincinnati State Credit Union. Marty is going to be around for another 10 years. Council won't get rid of Marty, nor will the city manager.     

Cincinnati State has no money to spend on anything.
HEP sold the CG&E building to STORE MASTER FUNDING for 5.8 million
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Factguy Quote  Post ReplyReply Direct Link To This Post Posted: Jun 04 2014 at 8:03pm
That is why it is a gold mine. They want to lease or have a split of revenue. They also have a police car or two, and employees, and want a credit union that their students and employees, and MUM can use.   
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Post Options Post Options   Thanks (0) Thanks(0)   Quote spiderjohn Quote  Post ReplyReply Direct Link To This Post Posted: Jun 04 2014 at 8:20pm
Why not the 1st national building, which they have already been given?
There is no gold in that area, factguy--just a lot of expense, hard work and a long wait. Pipe dreams imo
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Factguy Quote  Post ReplyReply Direct Link To This Post Posted: Jun 04 2014 at 11:22pm
No space in Ist National, all for new classrooms.

This will help Middletown, and so will the new lakefront park work coming. Middletown will be in high demand once the schools are done.

By Rick McCrabb

Staff Writer

MIDDLETOWN —

The cost of Phase 2 of the Gateway Enhancement Project at the Interstate 75/Ohio 122 interchange just got more expensive.

Construction was originally estimated to cost $941,000 and Middletown’s share was about $335,100, said Scott Tadych, public works and utilities director. But when bids for the project came in higher than expected, the city was responsible for providing the additional funding of $143,212.

OKI agreed to pay an additional 10 percent over the original $700,000 in Federal Transportation Enhancement Funds, which lowers the city’s responsibility to $73,212, Tadych told City Council on Tuesday night.

He said the amount will be funded through the Auto and Gas Tax Fund and will be reimbursed by the Warren County Vehicle Tax Fund.

The project includes roadway lighting, landscaping, trees and decorative pylons consistent with the recommendations of the Gateway Enhancement Plan from nearly four years ago, he said.

The project was bid by the Ohio Department of Transportation with the lowest of three bids being 16 percent higher than the state’s estimate. The following bids were received:

  • Evans Landscaping Inc., $1,097,629.45
  • Olco Inc., $1,451,758.52
  • Complete General Construction, $1,655,975

Council adopted the resolution last month and appropriated $335,100 for the project. Council unanimously approved the emergency legislation Tuesday night to pay the additional $73,000. If council decided against awarding the contract, the city would have lost the federal transportation funds since they must be appropriated in the current fiscal year, Tadych said.

He said work on the project is expected to begin in early July.


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Post Options Post Options   Thanks (0) Thanks(0)   Quote Vivian Moon Quote  Post ReplyReply Direct Link To This Post Posted: Jun 05 2014 at 6:23am
Factguy
Cincinnati State is cutting classes and staff because of debt load for 700 students. 
CG&E Building still is not complete and
 still not at break even point.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Mike_Presta Quote  Post ReplyReply Direct Link To This Post Posted: Jun 05 2014 at 7:09am
Factguy:

As one of the most brilliant teachers at Fenwick in the 1960s often said: "Your education has been sadly neglected."
“Mulligan said he ... doesn’t believe they necessarily make the return on investment necessary to keep funding them.” …The Middletown Journal, January 30, 2012
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Post Options Post Options   Thanks (0) Thanks(0)   Quote spiderjohn Quote  Post ReplyReply Direct Link To This Post Posted: Jun 05 2014 at 7:25am
As Leadbelly would sing:

"You can go to your college"
"You can go to your school"
"Sometimes that just makes you"
"An educated fool--that's all"
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Post Options Post Options   Thanks (0) Thanks(0)   Quote spiderjohn Quote  Post ReplyReply Direct Link To This Post Posted: Jun 05 2014 at 8:23am
u might be too young(or am I too old?) factguy
sos
deja vu all over again
Groundhog Day
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Factguy Quote  Post ReplyReply Direct Link To This Post Posted: Jun 05 2014 at 9:03am
Four or five bidders want the Bank One building, all fools?

 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote spiderjohn Quote  Post ReplyReply Direct Link To This Post Posted: Jun 05 2014 at 11:52am
Lol
Hopefully not all of them
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