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Glawe responds to: ‘Is Cenate out to make money?’

April 4, 2014

In response to speculation that Cenate may be buying a valuable piece of property cheaply, then selling it to a developer for a tidy profit, Reed Glawe, spokesman of the group, responds: “No, they......

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(9)

GopherState

Apr-06-14 1:53 AM

The value comes from comparable sales of similar buildings. What a building is worth and what it would sell for are two different values. The replacement cost would certainly be significantly higher.

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Integrity

Apr-05-14 8:27 AM

Oh, and right now, Brown county doesn't have ANY tax revenue on that building as long as it's in the district's possession.

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Integrity

Apr-05-14 8:26 AM

Where does a "value" of $1.45 million come from? Replacement costs? Value is based on a willingness and ability to be compensated. The highest developer bid from 3 years ago was $100k and they wanted it free-and-clear to do with it what they wanted. Value of a real estate is governed by buyers, not replacement costs, tax assessments, etc.

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JamesTwo

Apr-04-14 9:25 PM

Where are the journal articles about the school district willing to sell a bldg with a minimum value of $1.45 million for $25k? When will Brown County see property tax revenue on minimum value of $1.45 million on the property?

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JamesTwo

Apr-04-14 9:25 PM

Where are the journal articles about the school district willing to sell a bldg with a minimum value of $1.45 million for $25k? When will Brown County see property tax revenue on minimum value of $1.45 million on the property?

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middleclassworker

Apr-04-14 7:48 PM

I applaud this group of citizens. I also have no problem with them making a profit for their risk. I'm sure they will lose money before they make money, considering that the district is barely covering the cost of utilities and insurance in their rent.

I hope that when they split this building that safeguards are put into place (TAKE NOTE, CITY COUNCIL) to prevent the mall fiasco from happening all over again. At lease with Mr. Glawe being an attorney, I'm sure their will be some protective language written in any sale agreement.

My other concern is that if they can't make a go of it, it will go to the county as a tax-forfeited property and the county will then be stuck with it.

Best wishes to this group of people. I hope things work out well.

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randiscott

Apr-04-14 5:24 PM

We wish them well and if they make a lot of money down the road from this investment more power to them.

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Integrity

Apr-04-14 11:17 AM

Worth a repeat: ANYONE, at any time, could have put together an offer and negotiated and tried to buy this property for whatever they felt was worth. I have no ties to any of it, so don't think I'm in Cenate. It's basically been for sale publicly for 3 years. Again, I'm just happy the district is cutting their losses and getting out from underneath it.

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Integrity

Apr-04-14 8:02 AM

No other offers are out there, so is it really that "cheap" of a price. The value of anything is what someone is willing to pay for it. All the developer offers from 3 years ago eventually pulled out. There is asbestos all over that building. As he says, it's a risk. In addition, what if they do make money?? Is that against the law? Anyone out there had the opportunity to put this together as they did. When private businesses do work for the city or state, they make money (at least attempt to), how is that any different? Stop complaining, there's a huge, bleeding ulcer that is being taken off the district's hands, be happy and move on.

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