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Tuesday, July 18, 2017

City Signing of VA Homes Deed Met With Applause

Members of council, Ron Dill and Jann Seidenfaden watch Mayor, Eric Haas, sign the deed for the VA homes. FTM file. 
by Robin Gee

The VA homes are now in the hands of the city of Fort Thomas. At the July 17 meeting of City Council, Mayor Eric Haas signed the 31-page deed transferring ownership of the homes and surrounding property from the Veterans Administration to Fort Thomas.

The city will hold the property while the selected project developer, Bloomfield/Schon, finishes paper work to secure an Industrial Revenue Bond, or IRB, necessary for purchase of the property.

RELATED: VA Homes Project Proceeds With Financing Plan

While the city has the property in its possession, staff will assess and secure the homes and grounds in preparation for the handover to the developers.

"I’m excited that we finally have the deed to the property," said Haas. "Now, we will go in and make sure the buildings are buttoned up and everything is safe. We’ve gotten over a big hurdle, because now it’s in our hands."

City Administrative Officer, Ron Dill, noted that having control of the project helps to clarify timelines and sharpen focus overall. He said he was happy to work within a more defined time frame and looked forward to watching improvements happen once the developers take over.

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Next steps on the project include completion of financing by the developer, and the approval by the Fort Thomas School Board of terms for a proposed pilot plan that would provide payments to the school district to lieu of tax revenue. The Board is expected to vote this week.

This story will be updated.

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