By: Diane Benjamin
PDF page 447: http://www.cityblm.org/Home/ShowDocument?id=15814
Monday night the City wants to buy a house adjacent to the old Coachman Hotel property. The address is 404 E Washington.
Less than a month ago a developer talked about building “affordable” housing on the Coachman property which the City also owns. http://www.pantagraph.com/news/local/government-and-politics/affordable-housing-pitched-for-ex-coachman-site/article_e11f52ca-39cd-5465-936d-1f2873a4567e.html
The City is planning to pay $95,000 for the new property. Sweet deal since the County has the property valued at $49,950: http://mcleanil.devnetwedge.com/view/RE/21-04-407-008/2016
Structures will probably be torn down to make way for the new low-income property. Are taxpayers going to be fleeced with that cost too?
Is the Assessor doing a poor job valuing property, or is the City spending over-value because your money doesn’t matter?