This past week there was an update on the VA / military homes from the Campbell County Connects blog. Â In this update we learned that three developers had “picked up bid packets” indicating a high level of interest. Â However the original deadline passed and was extended 3 weeks at the request of one developer and without any confirmed bids.
So where does that leave the fate of the possibility of a re-developed officers homes? Â Don Martin had this to say:
Martin said in order for a bid to be considered, it must meet the minimum of about $1.6 million to cover the cost the city will incur by purchasing the properties from the VA.
Martin said if no one bids on the properties or the bids don’t meet the minimum, the city would most likely walk away from the project and it would be up to the VA to decide how to dispose of the properties.
So I ask you readers – if this last developer comes back with a bid of $1.25 million would you be willing to put your tax dollars to work to make the development happen – assuming it is a reputable developer with a strong vision for the structures?
I contend those homes are some of the most, if not the most, important pieces of real estate in Fort Thomas. Â Are we going to watch the historical significance of those homes be lost forever or should we be willing to invest some tax dollars – even if it means the city loses $350,000 on the deal? Â Keep in mind the city is cash flow positive, not in debt, and with a strong balance in their general funds.