Sunday, March 2, 2008

Brownfield Charities' Brownfield (Arcade Deal Off)

Metromark at the DMM site posted some info on the Arcade.
The latest was that Bob Schiffler was trying to work a deal with Tony Staub/Brownfield Charities to buy the building and I guess assume debt.

This had been going on since before Christmas. It looks like Staub won’t deal so Schiffler withdrew the offer. So the Arcade will go to Sheriffs sale, as Staub, or (legally) his charity, hasn’t paid taxes on it since it was donated by Danis.

Presumably Schiffler could pick it up at the Sheriffs sale, or someone else might (like, perhaps, the leinholder).

But what about this Brownfields Charity? What else does it own?

Taking a look at the auditors records, apparently quite a bit of land off Columbia and Garst streets and Edwin C Moses. Here is the key record, showing a collection of lots, and a fairly high assessed value of over $600,000


It turns out this is the old Aetna Paper plant (and its surrounding vacant parking lots). It looks like Staub got in the Spring of 2001.
So is this in the same tax trouble as the Arcade? According to the records, maybe not. It appears Staub (or someone) has been paying taxes on this hulk ever since he got it, and even after he received the Arcade.


Yet this building is a ruin. It is falling apart and is accessible from the railroad that runs behind it, so open to vandalism and who knows what else. One has to wonder if even the salvage is worth $600,000.
The city did put a fence around the front, with this sign warning people off, including (if you can read the fine print) the owner.

So, could this be the fate of the Arcade if nothing happens?

I think the city would try to tear it down the Arcade if it becomes this much of an eyesore and hazard. Though the exterior of the Arcade would hide progressive damage inside as the glass roof and dome collapse, sort of the way the fa├žade of Aetna Paper hides the damage in back.

16 comments:

Anonymous said...

Tony Staub was sent to jail Friday, June 26, 2009 concerning failing to secure the vacant paper plan facility; one result of which was an arson fire June 4. He must post $100K bond and the judge told him to get security at the site since people continue to get in (and live) in the buildings.

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