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Friday, November 22, 2024 |
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Thank You Miss Vivian |
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Nelson R. Self 
MUSA Citizen 
Joined: Oct 03 2009 Status: Offline Points: 279 |
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 Topic: Thank You Miss VivianPosted: Oct 18 2009 at 6:17pm |
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Miss Vivian -
Thanks so much for your background information on the Sorg Mansion.
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swohio75
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Joined: Jun 13 2008 Status: Offline Points: 820 |
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Posted: Oct 18 2009 at 8:15pm |
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The price was reduced two days ago to $495k
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VietVet
MUSA Council 
Joined: May 15 2008 Status: Offline Points: 7008 |
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Posted: Oct 18 2009 at 8:22pm |
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I thought the Crout money left to the city had been spent. Thought I read that a while back?????
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Nelson R. Self
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Joined: Oct 03 2009 Status: Offline Points: 279 |
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Posted: Oct 18 2009 at 8:50pm |
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Miss Vivian -
Thanks for shedding light on local historic preservation history.
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Mike_Presta
MUSA Council
Joined: Apr 20 2008 Location: United States Status: Offline Points: 3483 |
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Posted: Oct 19 2009 at 4:10am |
Does it sound like the price of the Sorg Mansion was "reduced" by about the same amount that City Hall PAID for the worthless Strand building just to be able to demolish it??? Don't the same folks own both???
Geez-O-Pete!!! Don't tell me...
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“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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swohio75
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Joined: Jun 13 2008 Status: Offline Points: 820 |
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Posted: Oct 19 2009 at 8:39am |
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It was $595k. But that, too, was a reduction from the original $650k list price.
If you check the Butler County Property records, you will find that it appears the city paid nothing for the Studio building.
My guess this transaction has something to do with the train station (also part of the Finkelman holdings) and proposed rail stop in Middletown. That's just a guess that I am making, not backed up by any factual information
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mihousenut
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Joined: Oct 19 2009 Status: Offline Points: 9 |
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Posted: Oct 19 2009 at 10:08am |
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What would the Preservation Society do with the building then? The cost just to heat the place is astonomical, and the property taxes are going to kill you also.
I asked Marty K. about using some funds, from the neighborhood stabilization fund they received from the Fed Gov't for the Sorg, and his reply was that the city has a fund that provides up to $5000 per building for rehabbing, nothing more.....He recieved $$ from this fund. I asked him if there would be any way to tap the Fed money, and he would not give me an answer on that, and that economic developement(stimulas) money is not available for such a project. Historic tax credits in ohio, from my research only go towards major projects, the smallest project was around $840,000, the largest was something like 140 million. In Michigan here, all I have to do is fill out paperwork, get approved, and receive my tax credit, no matter the size of the project, which I will say has helped rehab alot of private homes as well, which does not happen at all in Ohio.
I looked at the Sorg, to turn it into a bed and breakfast, but to be honest the asking price needs to get to $175,000 or less to make me interested. Why would anyone in their right mind buy it, put 1 million into it, only to sell it for $500,000 down the road and take a loss of about one million. A very nice old restored old house just up the street it listed at $325,000, why would something a little larger sell for more, and still need 1 million in rehab costs. I love old homes, and have restored four of them so far( the one I have now is a very nice high end B&B) and would love to restore the Sorg....even if it took me 10 years to do, but there is not alot of help to start a new business.
The Crout trust fund I imagine has stipulations placed on it for it's use, but with say a grant of $$ to rehab, in conjunction with a Heritage Ohio possible grant...maybe someday, right now I jsut sit and watch to see what happens.
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Nelson R. Self
MUSA Citizen
Joined: Oct 03 2009 Status: Offline Points: 279 |
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Posted: Oct 19 2009 at 11:46am |
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Miss Vivian -
How much of the $1,000,000 George Crout Memorial Trust Fund is left?
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VietVet
MUSA Council
Joined: May 15 2008 Status: Offline Points: 7008 |
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Posted: Oct 19 2009 at 12:23pm |
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Actually mihousenut, there have been funds here in Ohio that have been used to rehab private older homes. There has been information in the past posted on this site that claims that several owners of some historic South Main St. homes have used fed funds to rehab their homes. Marty Kohler's name has been mentioned as one of the recipients of these funds. I believe the mayor, Lawrence Mulligan is another. Could be wrong here.
Is that correct Mike? Do you remember this info. being talked about here? Can't remember the details. Vivian- can you remember Kohler being connected with some "creative financing"? Anyone? "Not alot of help to start a new business" could be an understatement here in Middletown. The town is not viewed as "business friendly" by many. |
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mihousenut
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Joined: Oct 19 2009 Status: Offline Points: 9 |
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Posted: Oct 19 2009 at 12:50pm |
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Vietvet,
Let me see what pops up on this post, I really love that old home, and walked away. If there is money out there, I would be more interested, but at this point, I have a family to consider, and looking to the future, what would it resell for as a profitable inn, after all the rehab costs, would I come out in the black, as this is my retirement money I am looking at.
Any help as to why anyone would visit Middletown would be helpfull, most people shake their heads and go I don't know, and I have to say right now I am in that boat. I cannot even find a really nice high end restaurant to send what would be prospective guests to...
My thoughts about the Sorg would be a complete remodel, alot of work done myself, and day labor for alot of cosmetic, skilled trades for the hvac, and such, re-landscaping the grounds, swimming pool, spa services, weddings, business conferances, small gatherings, maybe even something like Sunday night concerts on the back lawn for the public(I have contacts with some music labels, and such) still around 1 million to redo, maybe more. basically my life savings, and alot of sweat equity.
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swohio75
MUSA Citizen
Joined: Jun 13 2008 Status: Offline Points: 820 |
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Posted: Oct 19 2009 at 1:03pm |
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[QUOTE=VietVet]Actually mihousenut, there have been funds here in Ohio that have been used to rehab private older homes. There has been information in the past posted on this site that claims that several owners of some historic South Main St. homes have used fed funds to rehab their homes. Marty Kohler's name has been mentioned as one of the recipients of these funds. I believe the mayor, Lawrence Mulligan is another. Could be wrong here.
Is that correct Mike? Do you remember this info. being talked about here? Can't remember the details. Vivian- can you remember Kohler being connected with some "creative financing"? Anyone? /QUOTE] I do not remember being provided here with any substanial proof that this has been the case. From what I remember it was nothing but heresay and speculation. |
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Nelson R. Self
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Joined: Oct 03 2009 Status: Offline Points: 279 |
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Posted: Oct 19 2009 at 1:16pm |
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Viet Vet -
Call me if you desire information on the former CDBG Property Enhancement Program (PEP).
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mihousenut
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Joined: Oct 19 2009 Status: Offline Points: 9 |
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Posted: Oct 19 2009 at 1:17pm |
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I specifically asked Marty if part of the 2.1 Million they received from Neighborhood stabilization were to be available, not the case....also i am not in city gov't so some things I am not privy to, if you catch my drift. Economic development grants are nonexistant if I recall my conversations with several people. I do have to say in all fairness, i have talked to several people in City Gov't, and they have been very nice to me, but not very helpfull, as in the case of this house will not help matters in terms of investors. What you will see at some point is someone buy it and turn it into an assisted living home, there are regular federal grants available for that, they get awarded every six months!!! I know, we are losing one of our historic churches for one just one block over from my house.
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Mike_Presta
MUSA Council
Joined: Apr 20 2008 Location: United States Status: Offline Points: 3483 |
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Posted: Oct 20 2009 at 4:33pm |
In the past, the city has had CDBG funds reserved for "neighborhood beautification" in several of our poorer neighborhoods, one of which's boundaries included the South Main Street Historic District. The fund were not all expended due to lack of applications from low income residents (many of whom were elderly or otherwise could not do the work themselves). I have always heard rumors that a substantial amount (ranging in total from $60K to $100K) ended up going to city employees and members of the board of the Histoic Society to spruce up their homes on S. Main. I have never tried to verify these accusations, since I had proposed using CDBG funds for streets in some of our poorest neighborhoods and feared upsetting city hall if I nosed around. (I believe that some in city hall are quite "sensitive" that way.)
Perhaps if we get some NEW council members elected, they will look into this.
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“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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