Risky Behavior (in Toledo, Ohio)

I posted a poll to see how many people would be interested in forming a corporation. This corporation would "protect" the property that the Haughton Elevator company sat on. The risk would be spread over 100's, and maybe 1,000s of individuals.

This got me thinking. I live in the Old South End, but often my interests don't extend beyond my block. The abondoned house on the corner, the vacant lot at Walbridge and Langdon, and other properties that I see empty sadden me. But I am not a wealthy individual with thousands of dollars to "invest", and if I were I probably wouldn't be interested this area.

But a member of this neighborhood should be. The idea to get together to invest in your neighborhood is as old as America. People raised barns and houses together expecting reciprocity. But I don't see it much anymore.

I am as guilty as the next person. We look to a city government with the stamp of Carty Finkbeiner on it, and expect it to do everything for nothing. We don't want to pay taxes, period. But what about "investing" in our neighborhoods. What if people formed corporations to invest in real estate in their neighborhoods? I am sure this part of town isn't the only one with vacant homes, and empty lots.

You know, people like to gamble. I never have. I am not good at it. If there were two people in a lottery (me and someone else) s/he would win.

But I've believed (since I could think about it) that business is a gamble. You can control some of the factors. You do your research, and try to get good employees, and then you place your bet. Sometimes you win, and sometimes you lose. So (to me) if I were to gamble on something, it would be a business. I have some control over the factors (unlike a football game), but it is still a gamble.

I say we should gamble on Toledo.

No votes yet

I no longer live in the south end but I would consider it to have significant potential for investment. I too am no weathy investor but I would at least look into such a venture.

MikeyA

MikeyA

I smell a scam!

"All evil and unhappiness in this world comes from the I-concept."

"All evil and unhappiness in this world comes from the I-concept."

But there is certainly an opportunity to start a community redevelopment corporation in the south end. There are state and federal grants that can be applied for that fund community redevelopment projects and having a single entity to coordinate the grant applications and manage projects would be highly beneficial to the south end. Starting small, the corporation could focus on creating low income housing on vacant lots, refurbishing vacant commercial properties, and developing greenspace. After awhile, a larger project like the elevator property development could be tackled. Using the funding available from grants, a CRC could incentivize larger projects conducted by private developers as well.

Applying for and receiving grants is not easy, but thinking creatively can widen the possible grant sources. For example, a project that builds housing for low income residents may only be able to get grants issued by HUD. But if you build the housing out of unused cargo containers, which can be obtained cheaply I might add, there may be EPA grants available. Give them green roofs to lower cooling costs and the project may be able to obtain DoE funding.

If you're really interested, check out grants.gov. Its a clearinghouse for all grants offered by the federal government.

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"When I say your dumb name, please stand up briefly, but then quickly drop to your knees and forsake all others before me." -Ignignokt

There's a city full of walls you can post complaints at

I'll take a 90 option to short the IPO.

Mad Jack
Mad Jack's Shack

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