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...

 

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 

 

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.

How much of the $1,000,000 George Crout Memorial Trust Fund is left?

 

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. 

 

Call me if you desire information on the former CDBG Property Enhancement Program (PEP).

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.