November 19, 2009

Second bidder, court case complicates city deal for shingle company

Another bidder is competing with the city over a trucking depot the city hoped to buy for a recycled shingle company.

The property, located at 2301 S. Memorial Drive, was formerly owned by JMP Intermodal, Inc. But company owner Thomas Russell got caught up in a bribery and corruption scandal at SC Johnson. The trucking depot is tied up in the $147 million settlement SC Johnson won against their former employees Milton Morris and Katherine Scheller, Buske Lines Inc., and JMP Intermodal for the bribery and corruption.

The city's Redevelopment Authority hopes to buy the depot and give it to an unnamed company that uses recycled tires to create shingles. But those plans have been complicated by another bidder, who may have the inside line on the property.

It's unclear what this means for the October announcement that the company was close to bringing 88 jobs to the city.

One source close to the deal said any sale needs to be approved by a judge, who will likely go with the highest bidder. But it's unknown how long it will take for the property to clear the courts, and that could jeopardize the deal, the source said.

24 comments:

  1. Boy once Brian O'Connell is NOT doing even the basic research on these deals. Why does does he still have a job?

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  2. John Dickert is so determined to give free land and buildings to businessmen from out of town but hasn't yet put his two cents in on the west Racine thing! What are you doing Dickert?

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  3. Why are comments closed on the Sebastian's post?

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  4. Anonymous.....I always see you in this site blasting Brian O'Connell. Do you have something personal against him?

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  5. 3:59

    I have tried like others to deal with him. IMHO he should be fired at once
    short list
    9/14 TIF failing )from the Mayor
    himself)
    West Racine Slum Project big time blow up.
    Uptown Art Project misspending City funds IMHO on that red thing alone
    Playing land speculation
    need more?

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  6. Has there been a single project that the mayor has tried to bring to Racine that has not blown up?

    Christian bookstore turns out to be a nazi.

    Tries to bring a shingle company to Racine by giving it a building that it does not own.

    What is going on at city hall?

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  7. Once again, you people haven't the slightest idea what you are talking about. At least your comments are on a fringe website and not something read by the public at large.

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  8. LoL at the Bookstore guy being a nazi, so is that project dead now ? Weird stuff.

    This old trucking terminal seems like kind of a crappy building, does the shingle company really need 30 docks with overhead doors ?
    Seems like there are 8 million under/unutilized buildings in that old southside industrial corridor.
    Good thing Racine Gov't took away from a taxpayer and occupant and tore down the ole Jacobsen.

    I agree that Brian O'Connell does kind of a junky job.

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  9. This comment has been removed by a blog administrator.

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  10. Two words

    Mark Belling Looks like Racine gets more focus by the news.

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  11. Hey if we give the Treasures guy 5 acres wort around 150K for 5 $7.50 hour jobs how does that help the city in the long run?
    When do we see the 10 year plan?
    When will we get rid of the yes men

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  12. So let me get this right.
    1. They have a company that can't afford to buy it's own building.
    2. They have given away a building that they don't own.
    3. They are going to buy a heap of a building from Johnson's for way too much money.

    My questions are:
    1. Do want to bring in a company that can't buy it own building anyway?

    2. If they can't pay for a building, can they pay their employees?

    3. Do you know anyone that has these "shingles"?

    Sounds like something I wouldn't be bragging about if I was the mayor!

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  13. I think I see the Red Army moving to the Dickert's Bunker.

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  14. I wonder if part of the building was going to house a local granite business?

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  15. Rainfair my friends, Rainfair......

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  16. Coal in Your Stocking11/20/2009 6:21 AM

    Maybe Dickert will resign on Christmas morning; giving Racine taxpayers THE greatest Christmas gift ever!!!

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  17. Coal

    Thinking that Dickert needs as much time to loot I mean help the city as he can. So many great things he has done let me list them....

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  18. http://www.journaltimes.com/news/national/us/article_40b5821b-02c9-5fd2-adb2-15eb9d79887a.html

    Coming to Racine?

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  19. This is really strange. I have reservations too. Shingles made from tires. Hey, maybe instead of getting fined for old tires on our properties we will get paid?

    Sounds like Dickert may be setting up more friends/relatives with sweetheart opportunities. It is a shame that we have that in the back of our minds when he is involved.

    Brian is doing a lousy job. He just doesn't get it. When will we figure that out and give him the heave ho?

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  20. Hey Dickert! Figure it out! You're not in the real estate business anymore! CITY GOVERNMENT HAS NO BUSINESS IN REAL ESTATE SPECULATION AND QUIT GIVING PROPERTY AWAY AT THE TAXPAYER'S EXPENSE! Man, you are so outta here next election!

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  21. http://www.timesonline.co.uk/tol/news/world/us_and_americas/article6926247.ece

    Coming to a Racine Headline.

    Drove around the City yesterday. The number of For SAle signs are growing by the day. Property values are declining (but NOT the assessments)soon we will be worse of the Detroit.
    What company will want to move here with the high taxes poor schools and crime rate?

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  22. Comments are closed on the Sebastian's post because the authors of this blog know that they will be accused of being hypocritical elitists for eating there and doing a story on it. I'm not saying that *I* think that - I just know that's what would happen.

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  23. Charlotte: So, are you related to Pete or Dustin? Which one?

    ReplyDelete
  24. [url=http://tinyurl.com/y9qxher][img]http://i069.radikal.ru/1001/35/75e72b218708.jpg[/img][/url]



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