Comment 60072

By MonkeyDo (anonymous) | Posted February 20, 2011 at 16:22:07

The Federal Government sold the building to Vranich for $1.2M with a covanent to ensure he wouldn't raise the building, or destroy the heritage elements. The price of the sale was determined based on these elements being preserved - which means they were assigned a value. While they may not have been given a dollar value - they were given a cultural value. Since the Federal government was relieving itself of the maintenance of these items it was willing to give the building owner a deal on the asset provided he/she maintained the culturally significant items for all to enjoy.

I have been given a tour of the building and the internal items noted in the covanent no longer exist to my recollection. The freizes on the outside have been left to rot for years and are in the worst condition since their installation in the 1950s. The owner has requested the right to tear down the building. If this final requests moves forward he will have broken every covanent in the agreement with the Federal government.

Is this emblematic of how all contracts with the Federal government are enforced?
Are there any other buildings in our community that are governed by similar covanents?

I would argue that the owner is in a breach of contract scenario and the Feds should demand the building back. The Feds should buy it back from him for the cost he paid less the decreased value in the asset now that he has ripped out every piece of recycleable metal, countless windows, HVAC, internal heritage elements as noted in the covanent, and now doubt countless other issues.

This would bring the building value down under $1M and I would personally guarantee that the community could raise the funds to buy the building from the Feds and to renovate it into a truly mixed use facility for the community - housing, services, creative industry space, commercial and retail.

There is now reason we should accept shit developments in our core any more. As noted by so many people if Vranich needs an empty lots he can use the HMP as promised or deal with his burnt out building at King and Hess.

We simply shouldn't stand for this crap. Where is our Federal government? Who is representing us in this dialogue?

Jeremy

Reply | Permalink | Context

You must be logged in to vote on this comment.

Recent Articles

Article Archives

Site Tools

Feeds