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Partnership May Bring New Progress

May 5, 2013

Instead of watching weeds grow on vacant lots and siding rot on abandoned buildings, Wheeling officials have decided to take an aggressive approach to redevelopmen....

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Ragnar

May-05-13 10:07 AM

In other words, you can have the property for $1 but we will require architectural/engineering plans that will cost you $3,000 or more, $15,000 in back taxes, $10,000 in back fire service fees, $1,000 in licensing/other various fees and $500,000 to bring the building up to code. Oh, yeah, this has to be done within the first 12 months and the building will be immediately added to the tax rolls, whether or not you have or are ready to lease to a (yet to be found) tenant who wants to open a (yet to be discovered) business that will bring you enough rent money to cover all of these costs and still turn a profit, which we then be taxed for B&O AND Income Taxes.

Great deal, eh?

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