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Wheeling taxpayers simply cannot afford to continue rescuing the owners of dilapidated buildings by purchasing them at unrealistic prices, then spending more to make them usable. At some point, a discussion about whether hundreds of thousands of dollars spent that way could be utilized more wisely for other purposes needs to take place.
As we report on page one of today's newspaper, two buildings at 1107 and 1109 Main Street, owned by the city, are to be renovated under a deal between the city and a private developer.
It cost the city $300,000 to buy the buildings in 2016, under the previous mayor and city council. An additional $350,000 in taxpayers' money will go toward making some repairs and improvements. Meanwhile, the developer is to spend $1.29 million on the project.
Another $4,800 is being paid to a local realtor who, according to Mayor Glenn Elliott, created the proposal on redeveloping 1107 Main Street. In such a situation, "you need to provide incentives to encourage the private real estate market to participate," Elliott explained.
If all goes as planned, taxpayers will not have to plow more money into the Main Street buildings.
But the city also owns four buildings in the 1400 block of Market Street. It cost taxpayers $295,000 to buy them.
Now, Vice Mayor Chad Thalman says the price tag may continue to go up. "I believe city council would be willing to work with developers (in a way similar to the Main Street deal) to get that site developed," he said of the 1400 block.
Repairing all that is wrong with the 1400 block structures could make the 1107-1109 Main Street cost seem like pocket change.
Nearly a year ago, Elliott seemed to agree with critics of such projects. "We don't want to be rewarding people who do nothing with their properties," he said of the city purchasing rundown structures.
We agree. The 1107-1109 Main Street arrangement is a done deal. City Council members should consider carefully before spending more on the 1400 block structures. Allowing a developer to raze them and make other use of the property may be a more realistic strategy.