By FRANK LEWIS
PDT Staff Writer
A deal that would put Portsmouth city operations into the current Fifth-Third Bank building on the Esplanade in downtown Portsmouth is still possible, according to Portsmouth developer Jeff Albrecht.
Albrecht said one of the proposals on the table is assembling a group of investors to purchase the building, with Fifth-Third remaining in part of the first floor and paying rent. The owners/investors would then lease the remainder of the building to the city.
“So the building would have value,” Albrecht said. “So you pay them based on the value of that lease, and you turn around and rent the rest of the building to the city. Included in the rent is maintaining the HVAC and the roof repairs and maintenance. That way the city doesn’t come up with any cash.”
Step two, Albrecht said, would be that the Marting’s Foundation would then tear down the Marting’s building, which the city owns, and build a large public parking lot on that property.
“Fifth-Third likes the idea of having a big parking lot across the street from them,” Albrecht said.
Step three would be selling the existing city building property on Second Street to a private developer.
“They would sell it for whatever they can get for it at an auction,” Albrecht said. “Whoever wants to buy it can buy it.”
Albrecht stressed that while area business leaders are working to try to make the plan become a reality, it is important to him and the others involved that they keep the public informed and in the loop during every step of the process.
Albrecht also commented on another aspect of his recent meeting with Gov. John Kasich.
“He wants to help us by coming up with three or four 70-, 80-, 100-people companies, and bring them down here, and do something quick,” Albrecht said. “Shawnee State (University) is getting this marvelous deed to the Internet super-highway. There’s a lot of software companies; there’s insurance companies; there’s banks; there’s people that use the Internet, that would like to have sites to tap into this Internet. So what happens if we tear down the city building and build a nice new building on that property, and put in three or four floors of office space and tie into that Internet? The governor would then call up, say, a software company and tell them, ‘we have a university where we can train your people, and we’ve got a hundred gigabyte Internet, and we’ve got office space that is probably 30 percent cheaper than what it is where you are.’”
Frank Lewis may be reached at 740-353-3101, ext. 232, or at flewis@heartlandpublications.com.
2. In the New Steel article it's not sure whose money he's spending or this is a kick off for him to run for some office? Albrecht has some complicated legal issues in Athens County?
3. Now will this be posted, it looks like the topic of this article is on Messerly's gag order on letting the citizens practice their 1st Amendment Rights?? Likewise on the "Gambling on New Steel" article.
So let's go. We will not repeat the postings about Albrecht messin' in the community's business in the other article on "New Steel." Messerly seems to have a gag ordered on that one too, except for that single parent from Atlanta, she must be connected? And she's for Developer Albrecht???
4. Recently, it was a flurry on the Gampp-gate, SOGP, USDA fraud and now it's Albrecht. Is this some kind of critical path plan, maybe maybe not?
5. Is Albrecht Gambling on this one too? Whose money is at stake here?
6. The plot thickens on this one, "investors" You know what investors do? Make money and the spicket, faucet, will be the Public Dole, the City's rent when they pay none now, that we know of.
7. And we already have the deep pockets in town, who pay no taxes, like SSU paying on their Dorms to a Developer, and the School District paying investors for their stadium??
8. Albrecht lays out "his" or his "think tank" plan without any professional feasibility study on the matter let alone a land use plan, traffic plan and all that "stuff" that Municipalities in this
U S of America do responsibly.
9. His plan does not mention the city getting it's $2 million back from the Marting's Building?
10. Although he's the man with the plan laying it out in the media? What's with that?
11. A bank who likes a parking lot across the street for it's customers to park and walk and no businesses around it though we've been in the banks and it's a low volume circumstance.
12. Step 3 is his Slam Dunk, Sell the City building while the City moves to pay rent until the "end of time."
13. Sell the city building at an auction, sophisticated.
14. You Tax, fees and fine payers, he's keeping you in every step of the way as he reveals it to us and not a comprehensive business plan like we bet you he has in all his deals.
15. What is Albrecht's standing with the community? He's not the mayor, not on council, not a county commissioner, not on the Chamber, or SOGP where ever that is now,
16. What is his standing, had Breakfast with Obama, and meets with the Governor of Ohio who's not throwing business and industry our way?
17. Oh, we went from Kasich going from not backing up our New Steel deal to throwing business our way with the office space that Albrecht is developing with who's money, where's the business plan?
18. Internet Super Highway, sounds Exciting Silicon Valley 2.1, is it 2.0?
19. Frank did Kasich say that or is Albrecht now the speaker for the State of Ohio?
20. Albrecht you are the latest and best Snake Oil Salesman we've had so far. And rent is 30% lower. Have you seen the values of the land deals in Scioto county and the rents they charge now without a renters fee from the landlords?
21. Albrecht, our new Pied Piper of Scioto Valley.
Hip Hip Horray.....
Follow the sounds of the flute.........if Gampp did not do it for ya.................
Lets see here. You cant get the taxpayers to pass a levy for a city building, so get it from them another way, by the city (taxypayer) paying rent to rent the 5th/3rd building.
Put the City building up for auction he says, and the highest bidder gets it. Lets do this Mr. Albrecht, lets sell it to you, for the price the taxpayer has invested in the Martings building which is $2 million dollars ! You still interested now ? I like how he says, sell it for what you can get. How about we sell it out right for what the taxpayer prices it at , instead of shady real estate agent pricing it for some crazy low price , when the Martings Building was worth millions because it benefited those who had their hands in the cookie jar. These guys work it all out, how it suits and fits them best.
Tear the Martings building down, what ? We need another parking lot in Portsmouth ? The are everywhere and sitting empty!
That will look real nice a big hole in the middle of downtown.
Lets keep the current city building spent a ton of money on it already, remodel that Martings building for all these jobs that are coming to town, let 5th/3rd keep their building. Then let the taxpayer rent the Martings building and re-coup their money that was invested that the taxpayer had no say in.
That dont play into the hands of these few Portsmouth businessmen, so the taxpayer can get screwed again, so I am sure they would not agree with it.
Isnt it funny these guys were never ever interested in economic development, Martings buildings, 5th/3rd buildings, talking to the last Governor, but now they say a way to benefit from it all they suddenly get interest.
Yes as this guys says, sell the City building to the highest bidder, what if he is the only one bidding, is that what he is hoping for ?
Wake up people of Portsmouth.
Then once the taxpayer (city) starts renting this 5th/3rd building, the local investors who buy it, will then come up and say, hey we are selling it your lease is up, then the taxpayers get screwed into buying it (another Martings building).
Your last paragraph nailed them and revealed their critical path method plan and the next step for the city after 5th. 3rd. drains the city coffers with monthly rents, etc. and they are ready for another round of Marting's 3.0........Marting's, Adelphia, 5th. 3rd.(obviously another failing business)......then what's the next step?
By then per the Albrecht's Cyclical, Fatawa, or dictum, they will have the City Building and property, with this Internet supper highway goin' on.
What'ever happen to that major Applachian Highway going through Ptown on to Columbus right up the Chillicothe Rights of Way alignment?
And now the SOGP has become a "Think Tank" and where does all that USDA money flow go if there is no SOGP any more? See Ordinance (January 13th.) 1966-4 that replaced Ordinance 1965-30, Mayor Merle J. Odee, Clerk Elizabeth Slattery, but we digress, perhaps.
The Chinese Checkers is a cookie Cutter in Ptown. Think of what you describe here and then think about ah, Social Security Admin. office, The Recruiting Office, H & R Block, Progressive, The Chamber, The CPA's, Kuhn, Babcock's sweetheart deal with the publiched $400,000 tax abatements, who else have they been playing Chinese Checkers with moving them around and getting New Construction and relocation costs from SOGP, the SBA, et al. and more rent from the deep pockets in town?
You nailed them TTTWY...............
"Then once the taxpayer (city) starts renting this 5th/3rd building, the local investors who buy it, will then come up and say, hey we are selling it your lease is up, then the taxpayers get screwed into buying it (another Martings building)."