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Wednesday, February 27, 2008

A bad week for the Cuyahoga County commissioners

Posted By on Wed, Feb 27, 2008 at 4:26 PM

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Jimmy Dimora's suddenly become reluctant to be screwed on a development dealTYPE CAPTION HERE
Something strange is happening over at county headquarters. The commissioners have suddenly become reluctant to hand over huge piles of money to developers, and it’s causing major chaos. In the past week, two big deals appear to have hit the skids because King Jimmy and his pals won’t open their wallets (or at least they can’t figure out a way to do it legally)… First, the K&D Group’s offer to buy the Ameritrust complex fell through because the county wasn’t ready to fork over a $15 million loan. Since K&D was the only company that submitted a bid to buy the vacant, asbestos-filled complex, it put the commissioners in a bit of bind. They can’t afford to move their headquarters into the complex, as originally planned, and no other offers are forthcoming. Right now, they seem to be scrambling to find a legal way to make K&D’s loan request work, but it hasn’t happened yet. To make matters worse, it also looks like the Medical Mart/convention center deal is on the rocks, because the Mart’s representatives aren’t offering enough cash. Today, Commissioner Peter Lawson Jones was even talking about reimbursing residents for the sales tax hike the commissioners rammed through last year in anticipation of the Mart deal. Giving back money? That’s unheard of in these parts. Next thing you know, Jimmy Dimora will join Jenny Craig and Frank Jackson will start granting interviews on Ellen. – Lisa Rab

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