Committee accepts property transfer
EAST LIVERPOOL-As expected, the city’s Community Improvement Corporation (CIC) on Thursday transferred the property listed as 112 East 4th St. – site of the former Crook furniture building -through a series of steps, all with the longterm goal of developing it into a hotel as part of city’s Vision 20/20 project.
The transfer of the property, originally owned by Soaring Eagle LLC, first went to the city, then to the CIC and then returned it back to Soaring Eagle.
City Council approved such a move, via an ordinance, earlier this month.
While neither the city or the CIC actually own the building, both the city and CIC must be included in the “chain of title” as part of the Vision 20/20 development plan, which includes seeking state and federal historic tax credit.
Soaring Eagle LLC is a company owned by the Crook building’s owner, Craig Newbold.
This is the same type of agreement that was used to transfer property just down the street that is earmarked for the New Castle School of Trades.
Of the 10 CIC members present at Thursday’s meeting, only one, Fred Kane, voted against the motion to have CIC President Sam Scafide sign the city ordinance approving the transfer.