Mr. Osbourne, as usual your statement of facts is not quite accurate – The bowling alley was not purchased for $550K and the bowling alley purchase vote was approved 6-1 (Mayor Cox – No) This is a MAJORITY not the majority.
I stand corrected: Mortgage price listed on the Recorder site is $465,000.00. Add city time (employee wages and benefits) and attorneys fees, closer to $500,000 (excluding the asbestos removal and demolition). The purchase was through the CIC. The recoup costs still stands – $12,000 versus $62,000 expected.
Sadly, they were misguided. They clearly overpaid for the property, which should NOT have been purchased in the first place. And now, we the taxpayers, are paying for this. And will continue to pay for 2+ more years, long after the building has been torn down. The only one laughing to the bank is the former owner. So much for that “entertainment district”. $550,000 could have been used towards a non-biased parking/traffic study and fixed infrastructure and roadwork. Blame the incumbents and majority on that one.
Mr. Osbourne, as usual your statement of facts is not quite accurate – The bowling alley was not purchased for $550K and the bowling alley purchase vote was approved 6-1 (Mayor Cox – No) This is a MAJORITY not the majority.
I stand corrected: Mortgage price listed on the Recorder site is $465,000.00. Add city time (employee wages and benefits) and attorneys fees, closer to $500,000 (excluding the asbestos removal and demolition). The purchase was through the CIC. The recoup costs still stands – $12,000 versus $62,000 expected.
Sadly, they were misguided. They clearly overpaid for the property, which should NOT have been purchased in the first place. And now, we the taxpayers, are paying for this. And will continue to pay for 2+ more years, long after the building has been torn down. The only one laughing to the bank is the former owner. So much for that “entertainment district”. $550,000 could have been used towards a non-biased parking/traffic study and fixed infrastructure and roadwork. Blame the incumbents and majority on that one.
Where’s the $50,000 that the city was to recoup from the contents of the bowling alley? Or was that just another pipe dream foisted on us taxpayers?