UCC What You Get in The Tribune

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Regular readers of The Tribune…well, eagle-eyed regular readers of The Tribune, will note that St. Marks United Church of Christ has filed notice that they seek a permit to demolish the bank building at the landmark corner of Spring and Bank streets (SE), with a demolition date no sooner than Aug. 30, 2006.

The public notice informs the public that the Historic Preservation Commission has been served with the allegation that the church has found an appraiser willing to say that “the building (improvements) on the subject real estate is incapable of earning an economic return on the value of the real estate.”

The church recently voted to reject a bona fide purchase offer of $250,000 for the subject property four blocks west of my own establishment. Apparently at least one appraiser is willing to say that the vacant land is worth substantially more than a quarter-million dollars.

NA Confidential hopes to provide you with relevant photographic evidence of the notice, which is purportedly posted on the face of the building in question.

For more details, see The Tribune of July 8, July 27, or August 15. The application for a permit has been filed sometime in the last 15 days, according to its words, and our sources tell us the Board of Public Works is the body that will grant or deny the permit application.

As always, we invite discussion of this important public issue by our readers. Real estate professionals are particularly invited to weigh in.

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