biggestweek2014cover
MedDirCover
HousingHeaderSmall
EMBCCover 

 linkedinfacebooktwitter

WTOLLogo1

Fox1

Home
Pages of the Press
River East corporation closes doors after 35 years
Written by J. Patrick Eaken   
Thursday, 25 February 2010 14:01

After 35 years and millions of investment, River East Economic Revitalization Corporation has closed its doors.

The East Toledo-based Community Development Corporation assisted and educated the local business community, created and maintained jobs, operated a business incubator, and redeveloped existing buildings and vacant land, in particular, brownfield sites.

A recent real estate assessment on the Lucas County website had 53 properties listed as being owned by River East Corporation, but former board members say those properties have been sold or have been negotiated for sale and are awaiting closing.

“Fifty-three properties is a lot — that basically has been whittled down to nothing,” said Neil MacKinnon, an east side businessman who served over 10 years on the board. “We didn’t file for bankruptcy and we worked out agreements with the creditors and everybody has been very creative working with us.”

River East is best known for The Docks in International Park, the renovation of the historic Weber Block at Main and Front, Starboardside Condominiums, and its role in nurturing the proposed Marina District.

 
Weber Block - Owners to continue renovating historic building
Written by J. Patrick Eaken   
Thursday, 25 February 2010 13:57

At least two of the three owners who partnered to purchase the Weber Block wish to continue renovating the building.

Businessman Bill Lorenzen and his son Justin Lorenzen are two of three partners who purchased the historic building from the River East Economic Revitalization Corporation, which closed and liquidated its assets. 

Justin lived in East Toledo until he was 10 years old, and understands the historic importance of the Weber Block. His family later moved to Oregon, and Justin lives in downtown Toledo now.

The partnership is in business to develop and sell commercial estate, including shopping centers, heavy industrial buildings, and warehouses.

“(The Weber Block) doesn’t really pull a profit right now, but as a kid walking through there and stuff like it is a little bit of nostalgia for us,” Justin Lorenzen said.

“We’re looking forward to remodeling it and bringing it up to speed, and in the next year or so we hope to have it fully occupied or as much as we can. We’re going to have all new windows, probably all new furnaces, and to do that is not going to be cheap.

 
Cheap gas causes IGS to drop contract with NOAC
Written by Kelly Kaczala   
Thursday, 25 February 2010 14:16

Columbia Gas of Ohio this week filed its Gas Cost Recovery (GCR) adjustment for March with the Public Utilities Commission of Ohio (PUCO), a cost that is considerably less than the cost of natural gas last March.

The GCR of 44 cents per Ccf (100 cubic feet) of natural gas will be 51 cents lower than last March, when it was 95 cents.

Warmer weather decreased the typical residential customers March bill to $91.60, compared to $104.31 last month.

The March bill will be $70.73 lower than last March, which was $162.33.

The March GCR will be in effect from March 1 through March 29.

The low GCR has had an impact on Interstate Gas Supply (IGS), an alternate natural gas supplier hired by the Northwest Ohio Aggregation Coalition (NOAC), a consortium of communities that includes Oregon, Northwood, Lake Township, Toledo, Maumee, Sylvania, Perrysburg, the Village of Holland, and unincorporated areas of Lucas County. It’s rate is always 3.5 cents per Ccf less than Columbia’s price.

 
<< Start < Prev 731 732 733 734 735 736 737 738 739 740 Next > End >>

Page 732 of 950
Banner
Banner

Polls

If you found a penny on the floor, would you pick it up?
 
Banner
Banner
Banner
Banner
Banner

The Current Weather for Millbury, OH USA

Login




Log in