T
TomD
Guest
City of Wauwatosa,Wi wants to take my
property through eminent domain. Th
curent developer not wanting to pay even
close to last developers signed offer
and
decided that they did not need extra
parking.( The mayor had courted last
developer agressively to the end) The
city stepped in at that point w/out my
knowledge and obviously came to some
understanding with the current store
developer( I
only found out when an environmental
firm
sent an estimate adressed to the general
manager at my adress. The city contacted
me within a week about their desire to
purchase, but
it has been 2 yrs( They waited util all
deals were closed before actually
proceeded) It appears now that they
want it for less than 1/2 of last offer
we had had. They have taken measures
recently; lowering assessment 80% not
the 20% I had asked for only because I
had been sitting on a non-cash producing
property waiting for one of these deals
to go through. They also took the
sellers permit away from my building
partner, for his antique
business( city codes may indicate their
motives) My partner is penniless. I had
been an idiot during this past 5 yrs
telling the city planner all of my
problems with my partner and such
thinking we were all on the same page
and
working for a common goal only to find
out through news stories of their real
intentions(they instructed appraiser to
do his job as not part of assemblage) it
does appear that they can try and hide
behind past rulings to arrive at their
obvious goal of trying to buy low. I
have been sitting for 5 yrs and if I can
only get market value I would rather
keep it and benifit from my contibutions
to the BID the past 6 and watch my
investment grow as the development in
the area is finally starting to take
off. The development potential is the
reason I bought 1/2 interest in the
the building in first place. Tom D
property through eminent domain. Th
curent developer not wanting to pay even
close to last developers signed offer
and
decided that they did not need extra
parking.( The mayor had courted last
developer agressively to the end) The
city stepped in at that point w/out my
knowledge and obviously came to some
understanding with the current store
developer( I
only found out when an environmental
firm
sent an estimate adressed to the general
manager at my adress. The city contacted
me within a week about their desire to
purchase, but
it has been 2 yrs( They waited util all
deals were closed before actually
proceeded) It appears now that they
want it for less than 1/2 of last offer
we had had. They have taken measures
recently; lowering assessment 80% not
the 20% I had asked for only because I
had been sitting on a non-cash producing
property waiting for one of these deals
to go through. They also took the
sellers permit away from my building
partner, for his antique
business( city codes may indicate their
motives) My partner is penniless. I had
been an idiot during this past 5 yrs
telling the city planner all of my
problems with my partner and such
thinking we were all on the same page
and
working for a common goal only to find
out through news stories of their real
intentions(they instructed appraiser to
do his job as not part of assemblage) it
does appear that they can try and hide
behind past rulings to arrive at their
obvious goal of trying to buy low. I
have been sitting for 5 yrs and if I can
only get market value I would rather
keep it and benifit from my contibutions
to the BID the past 6 and watch my
investment grow as the development in
the area is finally starting to take
off. The development potential is the
reason I bought 1/2 interest in the
the building in first place. Tom D