From NBC 24:
The troubled Commodore Perry apartments in downtown Toledo is sold at a foreclosure auction for less than half of what taxpayers spent to spruce up the building. Now, you'll be on the hook for those repairs for the next 20-years.
Carty is thrilled at the sale.Refuses to answer questions about it.
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I will try to do some pre-Ohio State game coverage. I don't think I will have a live blog, but I may be posting thoughts and photos of the pre-game. We will see what happens.
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Problem is, the building was bought by Wells Fargo Bank, not a private developer. When we mentioned that to the mayor, he raised his voice, saying, "I can't tell you how optimistic I am about Toledo and that includes the Commodore Perry".
yeah, speaking louder even makes those that don't speak english understand....
Only Carty would be "Optimistic" about a bank who's holding a note on a failing business purchasing it for 3 million less than it's appraised for, and leaving his city on the hook for half a million bucks per year for 20 years.
I heard that was the equivalent of 5 cops - from graduation of the class we were promised but never got, to their 20 and out retirement... All to pay for a building we shouldnt have had anything to do with anyway.
Thanks for voting this pig into office Toledo.
He did not want to see the Commodore Perry demolished and so he committed the tax payers to preserve the building. Another case of people without any background in business making dumb decisions.
Maybe Carty can save the Stranahan building and convert it into a low rent condo.