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Tuesday, July 5, 2011

How Much Would You Pay?


This past week there was an update on the VA / military homes from the Campbell County Connects blog.  In this update we learned that three developers had "picked up bid packets" indicating a high level of interest.  However the original deadline passed and was extended 3 weeks at the request of one developer and without any confirmed bids.

So where does that leave the fate of the possibility of a re-developed officers homes?  Don Martin had this to say:

Martin said in order for a bid to be considered, it must meet the minimum of about $1.6 million to cover the cost the city will incur by purchasing the properties from the VA.
Martin said if no one bids on the properties or the bids don’t meet the minimum, the city would most likely walk away from the project and it would be up to the VA to decide how to dispose of the properties.

So I ask you readers - if this last developer comes back with a bid of $1.25 million would you be willing to put your tax dollars to work to make the development happen - assuming it is a reputable developer with a strong vision for the structures?

I contend those homes are some of the most, if not the most, important pieces of real estate in Fort Thomas.  Are we going to watch the historical significance of those homes be lost forever or should we be willing to invest some tax dollars - even if it means the city loses $350,000 on the deal?  Keep in mind the city is cash flow positive, not in debt, and with a strong balance in their general funds.

4 comments:

  1. As long as we continue to have the safe, small town feel that we have now. And how much more traffic will this add?
    Sorry, but trying to get out of Crescent in the morning and between 5-6pm is becoming more difficult.

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  2. I was born in Ft Thomas. I visit every summer with my 2 sisters. We currently live in WI & CA. Every year we are saddened by the additional deterioration of these magnificent homes. It shocks me that this situation has gone on for so long. I hope this can be resolved and the homes renovated to their original beauty.

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  3. I'm all for the city conserving our tax funds, but it would be extremely shortsighted to let millions of dollars of development slip away over a few hundred thousand dollars. Especially after all the work that has gone into this project to date.

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  4. The city has spent an exorbitant amount of money to replace the park shelters and the bathrooms - a project which could have been adequately completed for a fraction of the money spent. This money would have been better spent preserving these historic buildings and the Armory building, which is in desperate need of repair. It is a shame that our city leaders do not feel the obligation to safeguard history for future generations. Instead we get overpriced shelters that don't even fit in with the architecture of the park. Oh..and they are going to cut down the big oaks by the playground too. It makes me wonder if these people ever use the parks at all.

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