With the $595,000 purchase of the Midtown building and three other D&D properties from Ken Johnson and the Midtown Investors Group, LLC, I think the city council is over-reaching what it should be doing as a governing body.
City government is to pass ordinances, provide services and infrastructure, not to be a real estate developer. Mr. Johnson and the Midtown Investors group must be doing cartwheels down First Street North with this deal.
If the Frantz Community Investors the city engaged for the project cannot secure financing, there must be a reason. Do they have outstanding debt? Do backers see no potential for the property? Did the city get sold a bill of goods? Why should the city deal with them anymore? They didn’t deliver. Why bail them out? If the project can’t go forward or the city loses the Main Street program, that ‘s the way it is. Next time the city has a sure fire deal they should circle back and do more research instead of being caught holding the bag. What if a buyer can’t be found?
My late father and grandfather had an insurance office in the Midtown building from 1926-1993, where Bloomin’ Nails is today. Many an hour has been spent in that building by the family. Even then, the paint peeled in dad’s office, plaster fell from the ceiling, the big north windows leaked. No matter what was done with them. The building has been in slow decline for years. Dad paid for his own remodeling as did the other tenants. There is asbestos, lead paint, etc.. Instead of $10 million for the project it will probably be $10 million per floor.
It’s demanding of the city staff and council to keep expecting a steady flow of money from the taxpayers for their projects. No council member ever votes no. The city never tries to cut costs. It’s a never ending wish list. No doubt more bonding and even higher property taxes will be in store for we taxpayers as the kitty is probably running a little low by now.
Money is no object in Newton, and no one seems to care.
Carole Doane
Newton