by: Diane Benjamin
Bloomington taxpayers already spent $2.2 Million on the Front and Center building being proposed for a downtown hotel!
Mayors back to at least Judy Markowitz have been driven to redevelop downtown. The Front and Center building fiasco is attributed to Steve Stockton. It started with the Ensenberger Building. Merle Huff bought it in 1999 with hopes of turning it into condos. Huff needed money to do that. The City of Bloomington decided to help – with YOUR money.
The City loaned Huff the $2.2 million dollars, but took the Front and Center building as collateral. Since construction on the condos started in September 2005, the collateral was secured before then.
The Ensenberger building was planned for 28-29 condos, a club room, fitness center, common room, and 2 storefront businesses. Reports from 2007 say 8 condos were pre-sold – one to the developer. Another report from 2009 says only 3 have been sold. Huff and developer Ward Waller spent time in court arguing over money, construction was stopped.
Obviously the Ensenberger building plans have not gone well. All the condos still have not been sold, I don’t know if construction was ever completed.
So what happened to the City’s $2.2 Million dollar investment and secured collateral? Then Mayor Steve Stockton released YOUR claim to the Front and Center building and gave Merle Huff clear title to the building! The money was given to Huff with the agreement it would be repaid. Steve Stockton allowed Huff to keep the $2.2 Million. The collateral was secured in 2005 UNDER Steve Stockton, he can’t blame a previous administration.
The City Council had to vote on the mortgage release. The lack of transparency with the City of Bloomington means that Council proceedings from 2007 are NOT on the website. Current aldermen Karen Schmidt, David Sage, Jim Fruin, and Judy Stearns were members of the Council in 2007. I wonder how they voted. Freedom of Information Act request filed.
Sick of government thinking they create economic development yet?
The Front & Center building has had particle board in the window for how long? Nice? Do they keep renewing the building permit or what? Hmmm. Council must like the look. Maybe a future beautification award coming with that.
Reblogged this on BLNNews and commented:
I wrote this article 10/1/2014. Now Renner wants you to buy the property again. Bailout for friends of government?
“Welcome back my friends to the show that never ends…” – It seems as if ever since I moved back here 20 years ago, that they have been doing or trying to do some grand scheme with “downtown” it’ s NOT gonna happen – but they can’t seem to ever believe that and continue with their big dream schemes and a few chosen few get rich from it one way or another. I remember sooo well the Colosseum malarkey I remember being bombarded with “but the hockey players will have HOME ICE! Isn’t that important to you??? I would say -“N0 Not really” and then be scolded for not having any compassion for all of the hockey fans in Bloomington – I would respond – “That might be pertinent of we were in Canada, it’s not pertinent in Bloomington, Illinois Bloomington is no het bed of hockey – the place is gonna be a huge money pit – forever” They would respond with “But it COULD be if we just got a place for them to PLAY!” I was right of course.
A lot of small TRUE specialty stores that carry things that can’t be found around here anywhere else being encouraged perhaps COULD help downtown, the things they always think up do NOT and will not. Sorry to be a little long winded, but it gets REAL old real quick to constantly be shoveling tax money into these hair brained schemes while a few “chosen few” happily skip off with their take and there is never anything to really show for it, and NOW they want a big fancy hotel in the wasteland, again… – spare me, and us, PLEASE!!
The successful business owners downtown are successful because they understand where they are located and what they have to do to generate sales which is to provide good products, services, and or price structure. They are providing what the people want. On the other hand, the losers are waiting for hand outs from the taxpayers and crooked politicians.
I agree this is a replay of the same tragic scene from days gone by. The current argument is that future tax revenue will repay the loans–I don’t buy into that argument. What is the tax revenue from the Ensenberger building or the Colosseum? Has the tax revenue made a dent in the loans from those endeavors?
Coliseum doesn’t pay property taxes, since Ensenbergers is mostly empty they probably don’t pay much either. You were promised that the Coachmen property sale would pay back the demolition costs, it’s still blank. That was 2008.