With government, The Stupid really does go from top to bottom.

The Village has several pieces of real property that it is talking about selling. Part of it is an empty double lot in the business district. Such as it is.

The wife of the guy who actually keeps the town running is a real estate broker. According to her the double lot is theoretically worth about $40,000 and as a practical matter would probably bring $32,000.

I offered them more than it was worth, showed them the section of the Ohio Revised Code that would let them legally circumvent the law that otherwise would require a bid process; and I even drew up the legislation for them. (All they need is an "Urban Renewal Plan")


I told them that I was wide open on the terms, but suggested a 3-year lease at $500/month with an option to buy at $40,000 at the end of the term. A default or failure to exercise the option would revert the land to the Village, along with any improvements made. (There would be a pole barn and a fence.) If I DID exercise the option to buy they would get a total of $58,000 for the double lot, PLUS the tax revenue of a business.
(The only other interested party is a neighbor wants to buy it so nobody build on it.)


I'll give you three guesses what they decided to do, the first two don't count and no... They didn't decide to sell to the guy who has the neighboring lot.




Comments

  • They decided to do fuckall.
  • Basically.

    They're going to put it out for bid with a minimum bid of $40,000.

    When they get around to it.
  • OK, so this just got more interesting.

    First, I heard from a friend that one of the council members is "livid" that the Mayor completely dropped the ball on actually getting the property out for bid. I guess it is interfering with said council member's attempt to play the role of power broker who can do favors for friends.


    I offered the opinion that if the village DOES put the property out for bid the council might open itself up to a lawsuit for breaching it's fiduciary duty to act in the best interest of the village, and that doesn't even get into the issue of cronyism.

     


    Then a couple of hours later I got another phone call, whereupon a bombshell dropped.

    When the Village took the property for non-payment of taxes it was as part of a program that would also have taken care of the back taxes.


    Turns out the taxes didn't get paid and the village owes the county $60,000 in back taxes, which is roughly ten times the money we have in the bank. Who screwed which pooch remains to be seen, but next Tuesday's meeting should be interesting.

    I'm going to try to get some more info on this tomorrow.


    Oh, and the Village Solicitor, who got the job by being the low bidder (~ $100/hr) said that the village HAS to put the property out for bid in order to sell it.


    I'm hoping someone brings that up on Tuesday so I can break out the line I thought up:

    "Well, the Ohio Revised Code, Chapter 721, Paragraph 28, says that our Low Bid Lawyer is wrong. Again."
Sign In or Register to comment.