A Good Example of How Elected Officials Continue to Divide Lakewood
Posted: Wed Jan 31, 2018 7:39 am
In the context of a thread drift debate over the "McKinley Place Development" thread, Councilman Anderson made the following statement on January 26, 2018:
Note the following key points from the appraisal:
1. The appraisal was based and conditioned upon the EXTRAORDINARY ASSUMPTION that it would be used for non profit (See highlighted page below). This lowered the fair market value by over $6M.
2. The appraisal was ordered and directed by Tom Gable---a CCF Trustee and Chairman of LHA (a non profit board of trustees that was a captive of CCF)
So, what Mr. Anderson claims was "studied inside out" by an "independent" appraiser is not accurate.
The City of Lakewood allowed CCF to tell them what 950 Columbia Road was worth and City Hall rolled over for that value---they never studied a thing about 850 Columbia Road!
Additionally, Mr. Anderson knows that Surgical development partners offered over $9M for 850 Columbia and I offered $10M cash for it in December, 2015. These offers came without listing or advertising.
The property was valued by a top real estate company in Cleveland for $13M without that EXTRAORDINARY assumption--I told Mr. Anderson and City Council this when I made my cash offer. They sold it for $8.2M extending an interest free loan to CCF to boot, placing the true sales price below $8M.
As long as City Hall continues to misrepresent what it has done to the taxpayers and underserved of Lakewood, they will continue to divide Lakewood.
And that's Bad Government. That's divisive government.
Here is the 850 Columbia appraisal Mr. Anderson referred to:David Anderson wrote:
850 Columbia was studied inside out and appraised by a Ritley and Associates’ independent state certified real estate appraiser.
David Anderson
Note the following key points from the appraisal:
1. The appraisal was based and conditioned upon the EXTRAORDINARY ASSUMPTION that it would be used for non profit (See highlighted page below). This lowered the fair market value by over $6M.
2. The appraisal was ordered and directed by Tom Gable---a CCF Trustee and Chairman of LHA (a non profit board of trustees that was a captive of CCF)
So, what Mr. Anderson claims was "studied inside out" by an "independent" appraiser is not accurate.
The City of Lakewood allowed CCF to tell them what 950 Columbia Road was worth and City Hall rolled over for that value---they never studied a thing about 850 Columbia Road!
Additionally, Mr. Anderson knows that Surgical development partners offered over $9M for 850 Columbia and I offered $10M cash for it in December, 2015. These offers came without listing or advertising.
The property was valued by a top real estate company in Cleveland for $13M without that EXTRAORDINARY assumption--I told Mr. Anderson and City Council this when I made my cash offer. They sold it for $8.2M extending an interest free loan to CCF to boot, placing the true sales price below $8M.
As long as City Hall continues to misrepresent what it has done to the taxpayers and underserved of Lakewood, they will continue to divide Lakewood.
And that's Bad Government. That's divisive government.