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I hope this particular article opens a lot of eyes today and helps others realize just how screwed up things are in the City of Salisbury.
Back in 1997 the City of Salisbury sold this building for, (are you ready) $75,000.00! The building went on the market recently for, (are you ready) $995,000.00! Now granted, they have reduced the price down to $775,000.00 because the Law Firm on the second floor has chosen to relocate, so there's no tenant.
Let's see, if it sold today for $775,000.00, that would be about a 100% profit each and every year they've owned the building. Now that's better than the City of Salisbury is up to, being at 25% a year and they're NOT supposed to be for profit, but who's counting, right Trice/Geary?
OK, so everyone would probably agree, the City screwed up only 10 years ago by selling it, (probably a FOB) for only $75,000.00 but it is what it is. I personally don't think that building is worth $350,000.00 and the owners only mortgaged $285,000.00 to purchase and renovate the building.
So we can compare apples to apples, the building is 8,610 square feet. Can someone tell me how many square feet the old Fire Station 16 is? Can you tell where I'm going?
I will never deny my $250,000.00 offer on the old Fire Station isn't a low figure but before my critics start ragging on me for such, remember I said they should put it up for auction and I would START the bid at $250,000.00. The idea of my offer was simply to place in every one's mind, Station 16 has serious value.
I then wanted everyone to learn that IF the City were to pull another one of its games by giving it away or throwing out a low ball figure, the Taxpayers were being screwed!
Now we have a perfect example of just how bad Mayor Tilghman wants to screw the Taxpayers once again. Just how many times do I have to come up with hard evidence that there are FOB's in the City of Salisbury and this is exactly what an honorable Judge would look at, (IF we ever go to Court) and see something just isn't right.
Now, do I have the right to make such said statements? Absolutely! I am a Taxpayer in the City as well and I have invested into property in the hopes it would bring in a positive return, then I got a major Tax Increase which screwed my investment all to hell.
Now I must admit, it pleases me very much when I see a property like this one go up on the market for such figures. However, I know reality and unless someone is simply clueless, it's way over priced! Again, that's just MY OPINION and I am NOT an expert in real estate, even though a Realtor wanted to list my home in Ocean City for NO MORE than $700,000.00 and we sold it for $1,600,000.00 in 5 hours, yet I'm no expert.
The Listing Agent here took the listing originally for almost a million dollars. We came to learn Chief See misrepresented himself when he stated to Council Members a while back ago that the old Fire Station was worth somewhere around $300,000.00 to $350,000.00 and called it a "Drive By Appraisal." We came to learn there was NO drive by and it was just a few of the guys talking numbers, there was no formal number put out there. Could Barrie Tilghman have been behind that, I don't know?
Nevertheless, Station 16 has some serious value to it, PERIOD! I wonder what the City has brought in real estate tax wise since this building was sold in 1997? Imagine what the old Station 16 could bring in too? Then you have to wonder, should the City be selling it?
Do any one of you believe it would cost the City $1,500,000.00 a year to upkeep that building like Chief See stated as well? I don't know about any of you but I didn't PAY anywhere near that kind of money just to BUY my building on the Plaza and it's around the same square footage. Upkeep on a brick structure like that, next to nothing!
So there's a LOT here for all of you to think about. YOU own the old Fore Station 16. Should the City hold onto it and use it for numerous things? My recommendation would be, absolutely. Like I said in my Post the other day, FREE BUILDING, keep it, lease it to a worthy Church, Bible Study, let them pay the gas & electric and upkeep for very cheap rent. The funny thing is, the City just took a building near the Code & Compliance Building and they're going to renovate it and rent out apartments as affordable housing. Why the hell is the City of Salisbury so desperately trying to get rid of this one?
You would think that the city would take that property near code and compliance, turn it into a first time home buyer opportunity. Renting housing should not be city business, they can't function with what they have now and be accountable at the same time!
ReplyDeleteThe fire station on S. Division Street is worth at least 4-5 times this building's value -- based on size, function, parking, location, etc. Visibility from Route 50 has minimal value, especially in light of the poor accessibility from that road and parking situation on W. Church Street.
ReplyDeleteMy guesstimate is that the old police station is worth about $200,000-250,000 and the fire headquarters is worth at least $750,000 (if sold with the land mentioned below).
FYI here are data from the tax records:
Old Police Station on W. Church St.(now AES, etc., offices -- enclosed area-5668 SF; land area-8568 SF. (Map 107 - p 1033).
Current Fire Headquarters on S. Division St. -- enclosed area- 7680 SF; land area 16640 SF (Map 107 - p 882)
IMO the fire headquarters data for enclosed area is questionable and it may be much greater. Also, the city owns about 20,000 (1/2 acre) between the building and the river that might be deemed part of the deal.
No question this building should never be given away for whatever! It is taxpayers property and should be put up for sale or lease to the highest bidder. Personally, I like Joe's idea of a new restaurant called Station 16. I believe that would get some real support from taxpayers and citizens and would turn into a usful facility for downtown workers and people who live in the city.
ReplyDeleteA. Goetz
This may not be the right spot, but a Chevy's (there's one near Annapolis) would be great.
ReplyDeleteObviously Bill Ahtes wants the riverfront land for his own personal gain. Remeber Ahtes, Hanna & McLaughlin? Just a few of the old boys who are really in power in Salisbury.
ReplyDeleteWhile I like Chevy's, save it for the rest of the places with chains. We need places of distinction downtown. People aren't going to come for chain stuff down there.
ReplyDeleteStation 16 belongs to the city taxpayer and it should stay with the city. It should stay in the hands of the fire department. Mark my word in less than 5 years the fire chief is going to go to the city council and claim they need more room and beg for more property. Anyone want to make a bet on that one?
ReplyDeleteI think they should turn it into a Rite Aid. We need another one of those in town.
ReplyDelete