A move by the to buy a former pizza restaurant is one of the ways to the city can help boost a community that is still reeling from the recession, said Community Development Director Adam Dotson.
The approved the purchase this week of the former Numero Uno site at 15426 S. Cicero Ave. for $165,000. The next step is to improve the property and make it ready to sell in the hopes that another business moves in.
"For the city, this is a great opportunity to show the business community as well as the surrounding area that we do believe Cicero Avenue has the opportunity to turn around," Dotson said.
Dotson urged the council to continue looking for ways to invest into the business community to increase the property tax base.
"We not only need to start making decisions on the public side of the road but (also) some decisions on the private side of the road," Dotson said.
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It should have been stated to him that if he wishes the city to buy this and he is so confident that the city will break even/make a profit with it then stipulations will be put on this. Since he is a cheerleader for this property, the city will have to have the property sold by _____ date (4 months, 6 months). The city has to make a profit off of this or break even at least. If Oak Forest does not break even and the property is not sold by a agreed date it should result in asking for Mr. Dotson's resignation or termination with the city.
The facts are the facts though. High taxes on small businesses gives them a tough time and they know this. It seems the things OF should be involved in at attracting business they don't do and then the things they have no business in they get involved in.
What the city spent on that property is less than the property alone is worth. There was a considerable note already on the property, I beleive it was mentioned at the last council meeting, but is public record, of $750,000. The bank approached us on the purchase price of $165,000, and now we can control what goes there. If it is determined that the building is in too much need of repair, we can demolish it and market the property all the way from Blarney Stone to the corner of 155th. This determination should be made sooner than later. It is a good purchase for the residents of Oak Forest, and it shows that we are willing to invest in our local businesses. You know you can always call me or email me with these questions.
Just like the facade program, it doesn't benefit the citizens, and public money is supposed to be used for public project and benefit, not for private use. End the facade program and the land grab, you will save the city more money that way.
I see the purchase of this property as a good thing for the residents, and that is why I voted the way I did along with all 6 of my counterparts. There is little risk in this investment, and with some knowledge of the prospects for this property, the city and tax payers will benefit on this purchase. I understand you have a hard time trusting the government, but good things are right around the corner. Please be patient with it.
Govt is not there to provide all these programs. It has nothing to do with trusting the govt, it has to do with the govt EARNING the trust of the people. The council is trying to pick winners and losers. We are in a financial hole and you guys keep spending OUR money.
Did the bank just wake up one day and say "lets take a huge loss on this property"? It is not worth the number the city says its worth...don't believe the delusion. Again if it was worth 750 the bank would have got 750 for it. Mike is right though. Buying this property will not solve anything. If oak forest were doing what it should be doing as far as taxes maybe they could get a business to move in there. This is NOT solving the problem. What is the city going to do, go and buy all the vacant properties with our tax money? AND THEN SAY YOU ARE SHORT IN THE GENERAL FUND AND HAVE TO RAISE TAXES AGAIN? I am sick of this and I think most residents are sick of this...ENOUGH IS ENOUGH! We need new leadership on the council and get the managment team out of here and get some people in who know what they are doing.
How much are you going to make in profit for yourself since you work for Pacmor morgage co. A good politician and I do mean A GOOD POLITICIAN would talk things out in public not hide over the phone lines