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City Signs Off On Downtown Property Acquisitions

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Nelson...Himself View Drop Down
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    Posted: Dec 12 2010 at 5:39am

City signs off on deal for three

Middletown bought the buildings for $25,000 less than what was originally negotiated.

By Jessica Heffner, Staff Writer 1:50 AM Sunday, December 12, 2010

MIDDLETOWN — The city has officially become a landlord.

City officials closed on three of the five buildings it planned to acquire for use by Cincinnati State Technical and Community College for a new downtown Middletown branch campus.

Mike Robinette, Middletown economic development director, said the city has acquired the CG&E building at 1 N. Main St., Bank One building at 2 S. Main St. and First National Bank and Masonic Lodge building that make up 2 to 4 N. Main St. for a price of $275,000. That figure is $25,000 less than what was originally negotiated with the mortgage holder, Fifth Third Bank.

For now, the buildings will be managed by the Community Revitalization Department under Director Doug Adkins..............

Contact this reporter at (513) 705-2843 or jheffner@coxohio.com.

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VietVet View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote VietVet Quote  Post ReplyReply Direct Link To This Post Posted: Dec 12 2010 at 7:37am
And so it is......the taxpayers of Middletown own half of their own downtown. We are in the real estate business boys and girls.(actually have been despite what Heffner says in her article) We are also high risk venturers who will be left holding the bag if Cincinnati State or Verdin decides to leave at any time. We have become downtown property owners without the hassle of being asked if we wanted to participate in the decision. No need in asking the people funding the thing whether they wanted this or not. And to think, none of us were even asked if we wanted to attend the closing at the bank. I don't know about you, but I'm startin' to feel like 'ole Donny Trump, owning all this prime real estate. Looks like Sherry, executor of Thatcher's estate did real well for herself unloading all that property.


From the article:

"A team (from Cincy State) will also be evaluating buildings to get firm numbers on renovation costs". And what if the final costs to renovate these buildings become cost prohibitive? What if the high rollers at Cincy State determine the costs to be too high in the final analysis? Shouldn't this have been done BEFORE the city closed on the properties and some type of reassurance from Cincy State that they will proceed with the plan? And what happens now, Mr. Mayor, if the buildings owned by the city, become vacant in a few years (or months)??? What then?
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Guests View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Guests Quote  Post ReplyReply Direct Link To This Post Posted: Dec 12 2010 at 10:13am
It seems the residents really have no say in anything that effects Middletown. Curriculum still being evaluated, maybe not all programs being in the city, just a small satellite? O'Dell constandtly indicating sees no problems with expansion while cutting will occur at main location. Are professors from main campus also coming to Middletown to teach, is this just culinary? So many questions, so few answers, and yes, the Thatcher estate got a bail-out. 
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Hermes View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Hermes Quote  Post ReplyReply Direct Link To This Post Posted: Dec 12 2010 at 12:35pm
I think congratulations is in order to the Thatcher estate and it's executors! Clap
 
It reminds me of Elvis and John Lennon,even in death Thatcher is still making money off this town.
 
So wonder who pocketed the $25,000 difference ? One of those things that makes you say HHhhmmm. Ermm
No more democrats no more republicans,vote Constitution Party !!
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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 Posted: Dec 12 2010 at 4:55pm

Saved $25,000 LOLLOLLOLLOL

We still haven't paid for the historic Manchester Inn yet

Now Miss Judy please tell us how much a year it will cost the city to own these two bank buildings?

I thought we demoed the Swallens building to save $90,000 a year.Ermm
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Guests Quote  Post ReplyReply Direct Link To This Post Posted: Dec 12 2010 at 5:26pm
What if it turns out to be the only class taught is the culinary program, and Cincinnati State uses the other buildings for billboards? Have each building with a big CINCINNATI STATE logo on it. The Atrium must tell Gilleand and Kohler who and when they want a neighbor around them. Must be going to be saved for  Premiere Partner development only.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Guest Quote  Post ReplyReply Direct Link To This Post Posted: Dec 13 2010 at 7:44am
City couldnt chance waiting for the final decision from Cincy State. Somebody else might have bought those three buildings out from under them. You know how fast real estate flys off the market in downtown Middletown.
 
Besides, even if the Cincy St deal falls thru, their are plenty of uses for those buildings.  Performing arts, Historic Society, MAC, and MUM come to mind.
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Bobbie View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Bobbie Quote  Post ReplyReply Direct Link To This Post Posted: Dec 13 2010 at 10:34am
This was nothing more then a bail out for the Thatcher family. Cincy State was not even going to use all the buildings being purchased (that is if they come).  There are issues with both of the bank buildings - not just renovation needs - major issues.  I would like to know if they had anyone inspect the building (not someone from the city) to get what the actual repairs were. 
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Mtown View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Mtown Quote  Post ReplyReply Direct Link To This Post Posted: Dec 13 2010 at 10:34am
MiddletownUSA regulars continue their armchair philosophizing.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Guests Quote  Post ReplyReply Direct Link To This Post Posted: Dec 13 2010 at 10:58am
Mtown continues the armchair misdirection when challenged with direct, pointed facts. Seriously, how could anyone challenge the city after the Towne Mall spiral, Lake Middletown, the roof mall project, and countless other blunders, when 99.99% of these projects fails. You know one must succeed, impossible that everything fails for the city.
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Guests001 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Guests001 Quote  Post ReplyReply Direct Link To This Post Posted: Dec 13 2010 at 11:07am
Mtown is incapable of havign an original thought other than what is pushed by City Hall.  Doesn't want to upset the holder of the loans they owe the city.
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Bobbie View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Bobbie Quote  Post ReplyReply Direct Link To This Post Posted: Dec 13 2010 at 11:37am
Mtown is only hear to get people stirred up, they don't have any thing of any intelligence to say - so why give them what they want.  Just ignore them.
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randy View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote randy Quote  Post ReplyReply Direct Link To This Post Posted: Dec 13 2010 at 11:51am
I agree Bobbie, Mtown brings nothing to the table and is easier to just over looking any post made by them. Until they pay the city and Tax payer back the money the borrowed their opinion means nothing.
Call me for a www.CameraSecurityNow.com quote 513-422-1907 x357
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LMAO View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote LMAO Quote  Post ReplyReply Direct Link To This Post Posted: Dec 13 2010 at 12:14pm
Amen,they are not going to say anything bad about Middtucky since they owe the city money.Smile
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mtown View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote mtown Quote  Post ReplyReply Direct Link To This Post Posted: Dec 13 2010 at 8:42pm
MiddletownUSA regulars:
I know you don't care for the observations I make about the preponderance of negative comments you seem to enjoy making about the City you live and/or work in.

But the constant complaining about issues from years ago and the continuous criticism of anything the City does to improve the City is a waste of your time and energy.

Get out and do something about it!
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Post Options Post Options   Thanks (0) Thanks(0)   Quote LMAO Quote  Post ReplyReply Direct Link To This Post Posted: Dec 13 2010 at 9:13pm
Originally posted by mtown mtown wrote:

MiddletownUSA regulars:
I know you don't care for the observations I make about the preponderance of negative comments you seem to enjoy making about the City you live and/or work in.

But the constant complaining about issues from years ago and the continuous criticism of anything the City does to improve the City is a waste of your time and energy.

Get out and do something about it!
Are their 2 of you?Why I ask the other poster Capaitilizes the M you dont?Doesnt matter,do as one of the regular posted,Get back to work and pay your loan back that you took from the city.Wink
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Guests View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Guests Quote  Post ReplyReply Direct Link To This Post Posted: Dec 15 2010 at 8:20am
An Ode to Sammy
 
And what'll you do now, my graybearded son ?
And what'll you do now my horrid old one ?
You‘ll be goin' back out 'fore the rain starts a-fallin'
You’ll be walkin’ alone in the deep urban forest
Where the people won’t want ya when your sugar mamma’s left ya.
Where your perks of poison have flooded their waters
With no home on the hill, try the damp dirty prison
Where the executioner's face is always well hidden
Where hunger is ugly, where souls are forgotten
Where your backers are missing, where none is your number
And we'll tell it and think it and speak it and breathe it
And reflect it from the hoods so all souls can see it
Then you’ll stand on your canal boat until you start sinkin'
But you'll know our songs well before we stop singin'
And it's a hard, it's a hard, it's a hard, and it's a hard
It's a hard rain's a-gonna fall.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Guests Quote  Post ReplyReply Direct Link To This Post Posted: Dec 15 2010 at 9:40am
Mercy! The writing style of Mtown and mtown  seem to be spiderjohn. Is he playing two sides of the issues, to make friends on both sides of the aisle? Say it ain't so Joe. Why would anyone suspect its the individual who runs the stained glass shop? Mercy, it sure looks like spider to me.
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