Borough kicks in $70K to give troubled building a second chance
208-210 Locust Street
JOE LINTNER | COLUMBIA SPY
The agreement, which is subject to solicitor review, stipulates that funds provided by the borough must be repaid in entirety if the property is sold within five years of occupancy. Council President Kelly Murphy said that the Land Bank estimated the cost of an alternative plan - tearing the building down and rebuilding - to be $350,000. Borough officials agreed that no developer would be willing to invest that amount to rebuild on the property.
The building, which was thought to be in danger of collapse in 2015, was later shored up and reinforced and the facade covered in Tyvek, for a total cost to the borough of $51,911.17. The borough placed a lien on the property for that amount, which it subsequently forgave in exchange for possession from owners Sam and Cynthia Bigler of Millersville.
The backstory on the borough's acquisition of the property is HERE.
Comments
So Sam Bigler walks away with no punishment, Columbia Borough eats the $55,000 in costs and penalties and then give a Company $70,000.
Sam Bigler- $300,000 richer from the Walnut Street insurance claim
Columbia Borough- -$125,000 in taxpayers money for a Sam Bigler property
Bad business practices!
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