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Rose Furniture -- City Funding Assistance??

Printed From: MiddletownUSA.com
Category: Middletown City Government
Forum Name: Community Revitalization
Forum Description: Middletown Community Revitalization News
URL: http://www.middletownusa.com/forum/forum_posts.asp?TID=6540
Printed Date: Nov 21 2024 at 7:21pm


Topic: Rose Furniture -- City Funding Assistance??
Posted By: Analytical
Subject: Rose Furniture -- City Funding Assistance??
Date Posted: Sep 18 2017 at 4:12pm
Does anyone know if senior city staff ever provided city council and the citizenry with a breakdown of funding allocated for the Rose Furniture deal?  Besides the costs of repairing water damage at the adjoining 44 S. Main property, the cost of "shoring-up" the front facade of the Rose property, plus the cost of acquiring the 44 S. Main property for $125,000 and later selling same for $148,000, how much of the $200,000 or $300,000 gift from the city is left?

The gift of taxpayer's funds always deserves a full-accounting of expenditures plus ancillary profits.  What say you?


Replies:
Posted By: swohio75
Date Posted: Sep 18 2017 at 4:30pm
Originally posted by Analytical Analytical wrote:

Does anyone know if senior city staff ever provided city council and the citizenry with a breakdown of funding allocated for the Rose Furniture deal?  Besides the costs of repairing water damage at the adjoining 44 S. Main property, the cost of "shoring-up" the front facade of the Rose property, plus the cost of acquiring the 44 S. Main property for $125,000 and later selling same for $148,000, how much of the $200,000 or $300,000 gift from the city is left?

The gift of taxpayer's funds always deserves a full-accounting of expenditures plus ancillary profits.  What say you?
While I don't have a breakdown on costs, it's my understanding that there was a substantial amount of clean up and remediation that need to take place after the roof collapsed. 

It would make sense that the remaining funds may have been used for that or a portion of them.  

Posted By: Analytical
Date Posted: Sep 25 2017 at 1:18pm
Do senior city staff ever have a responsibility to keep abreast of taxpayer's funds that are "channeled" to former downtown re-developers?  And, one more time, Is it realistic that MUSA participants should demand knowing about this financial deal plus similar undertakings like Goetz Tower, former OG&E Building, former Bank One Building, etc., etc.?

Posted By: swohio75
Date Posted: Sep 25 2017 at 2:07pm
Originally posted by Analytical Analytical wrote:

Do senior city staff ever have a responsibility to keep abreast of taxpayer's funds that are "channeled" to former downtown re-developers?  And, one more time, Is it realistic that MUSA participants should demand knowing about this financial deal plus similar undertakings like Goetz Tower, former OG&E Building, former Bank One Building, etc., etc.?
The last I knew, no funds were "channeled" to the former Barnitz / Bank One building for redevelopment other than the sale of the property. 


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