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Land swap could cost city $95K

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By Ryan Gauthier, Staff Writer 9:44 PM Monday, March 15, 2010

MIDDLETOWN — Another land swap will be up for consideration when Middletown City Council meets tonight, March 16.

In the third instance of the city exchanging property with an area landowner in the past few months, council will be asked to authorize the exchange of a tract of land located at 1316 Vail Ave. with the former Middletown Antique Mall, 1607 Central Ave.

The city does not presently own the Central Avenue property, but Economic Development Director Mike Robinette said it plans to purchase it for $90,000.

“Midtown Custom Cabinets has been looking to expand their business and we have been eyeing the site for demolition as it is the only one remaining behind Barb’s Pub and the Studio Theater,” Robinette said. “They’ll get a building to grow their business, we’ll be able to finish clearing that area and will then be able to market it for redevelopment. It’s a win-win.”

The former Middletown Antique Mall property — presently valued at $125,000 — was sold on Feb. 19 for $50,000, according to the Butler County Auditor’s Office.

Robinette said he has no qualms about paying the current owner $45,000 more than he purchased the property for less than one month ago. He said the property was recently appraised at $85,000.

“This property was bought out of foreclosure,” he said. “But if you look at what it was carried at value wise, the market value for that is obviously much more than was paid.”

The ordinance also provides $5,000 to Midtown Custom Cabinet for what Robinette referred to as “moving costs” for the company. As the city has a lot of interest in acquiring the site, he said it has agreed to pay half of the estimated moving costs.

“It’s not unusual to share moving costs when you have a business moving because they’re going to expand and it’s in our interest for them to move, to assist them in the cost of relocating their business,” Robinette said.

The ordinance will be considered as emergency legislation, meaning it will circumvent the traditional process of first and second readings as well as the 30-day wait to take effect. That also means it needs at least six affirmative votes from the council to pass. With Councilman Jim Armbruster still hospitalized after undergoing open-heart surgery over the weekend, other council members will have to unanimously approve it.

Council meets at 5:30 p.m. in Council Chambers on the lower level of the Middletown City Building, One Donham Plaza.

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