Questions on the “sale” of City properties for future Toledo Riverwalk…

This 'deal' is iffy . Tetra Tech can back out at any time.

Questions on the “sale” of City properties for future Toledo Riverwalk…
They say the devil is in the details and after getting access to some of the details on the possible sale of property to Tetra Tech I have to wonder, Fox Toledo has the documents on line but the basic facts?

Only $5,000 is required as a downpayment, the closing date is not scheduled until a year after the agreement is in effect which appears to be one year after the Mayor signs it, if City Council approves it.

With the stipulation for the terms of the “Feasibility Period” Tetra Tech could back out if they don’t buy all of the other property they need and it appears there is over 40 acres of property involved and 60 listed as part of the exhibits attached at the end of the purchase contract. This would mean that Tetra Tech would have to negotiate a puchase deal with the rest of the property owners minus the 27 owned by the City within the next year for this deal to take place.

How many of you would expect to put only $5,000 down to buy 4.2 million dollars worth of property? Not to mention it appears the City would be responsible for the costs of the Erie Street Market for the next year…

http://glasscityjungle.com/wordpress/

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I took the list of the properties that Tetra Tech is interested in that are listed on the pdf from Fox and only totaled the value of the ones owned by Toledo that are being sold, over 9 and a half million dollars of property value appearing to be sold for 4.2 million dollars. This is if Tetra Tech gets the other properties it wants -

We don't remember days only moments...

Lisa...knowing what happens most of the time in this town, that "If" is huge!

When you fuck the community over for that 3/4%, you should wait until the body is buried and cooled off before you pillage your community again for your own personal gain.

You and your entire staff must fucking suck at math.

I'm sensing the need for a flashlight.

Full disclosure, anyone?

I have an eyebrow up and hand on the speed dial to Columbus. Whenever Carty entertains a "deal", I am almost always right to say it's not really a deal and in fact, subdifuge. 5k down and nothing in ink...LMFAO!

I said that Toledo would become so weak and desperate in the throes of its economic collapse, that any huckster could walk up to One Government Center with a "business plan" in hand and get the officials jumping over any particular scam they have in mind.

Anyone who wants to build a riverwalk can just buy property. A $5000 down-payment on millions of property is effectively nothing, as Chad implied -- it's not a real transaction. That's why I'm calling it a SCAM.

"Tetra Tech is part of the engineering team working on the Toledo Waterways Initiative, the city's $450 million program to upgrade sewage and wastewater treatment facilities.

The first phase, begun in 2002, cost $200 million and involved constructing new treatment and storage facilities at the Bay View wastewater treatment plant, new sewage pumping stations in Point Place, and an equalization basin in Brookford Park in South Toledo.

Tetra Tech was paid $4.8 million for its work in phase one as a subcontractor to Black & Veatch Corp. of Kansas City, Mo., said Dave Leffler, the city's director of public utilities."

http://toledoblade.com/apps/pbcs.dll/article?AID=/20080426/NEWS16/804260360

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