AMERITRUST BREUER TOWER SALE - $5000++ LESS, BUT REAL MONEY DOWN

Submitted by Jeff Buster on Wed, 04/02/2008 - 15:50.

  Robert Carrick,  County Purchasing Department, holds a half million dollar bank check which was submitted as part of the K & D Group bid package.  The half million dollars are non-refundable to K & D should they not complete the purchase of the Ameritrust property.  There are two 6 month periods during which K & D can close the deal with the County.  But if K & D fails to close during the next 12 months, they forfeit the $500,000.00 to the County. 

This non-refundable bid deposit means that the K & D bid is serious, even if they did reduce by $5,000.00 today's bid from their prior bid two months ago.  K & D had to be certain there were no other bidders for today, because by reducing their bid to the County specified minimum bid of $35,000,000.00, K & D left no room for any bid below them. 

The present sale price will end up probably 5 (or more) million less than the January sale because in January the asbestos removal was stopped.   Today DeGeronimo's Precision Environmental was back in the Breuer - as they have been for about a month.  By directing that the asbestos work to be re-started, the County Commissioners are reducing the price of the property for K & D.  

More to come.

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What happened to K&D's 1/2 mil ck? Did Cuyahog get it?

 Are the taxpayers in possession? or through some corrupt "loophole" did K&D get the check back?   

If you know,  please bring us up to speed!  Thanks