When Jimmy Dimora's at the negotiating table, it's rarely good for your wallet
The K&D Group’s offer to buy the old Ameritrust complex from the county is unraveling quickly. If you thought it unlikely that a private developer would pay $35 million for a set of long-vacant, asbestos-filled buildings — which happened to have
sold for a mere $22 million three years earlier -- well, you were right. They won’t.
K&D was the only company that submitted a bid for the complex, but both company and county seemed to be hiding a few critical details. Soon after the bid was accepted, the city started
throwing multi-million dollar loans at K&D to subsidize its other downtown projects. It looked suspiciously like payback for covering a huge blunder by county commissioners, who bought the buildings intending to build new headquarters there, only to discover they didn’t have enough money to make it happen…
