Assets for Sale . . . or Not

Lately there have been some very heated exchanges in the Common Council, involving not only the aldermen but also members of the audience, over the possible sale of the Dunn warehouse and the vacant lot at Fourth and State streets. 

Back in November, the Council—absent aldermen Nick Haddad (First Ward) and Chris Wagoner (Third Ward)--docilely agreed to write into the 2013 city budget $300,000 in anticipated revenue from the sale of these two City-owned properties. Now, with 2013 more than half gone, two aldermen--Ohrine Stewart (Fourth Ward) and Cappy Pierro (Fifth Ward)—are pushing to sell one or both these properties at auction, because it was written into the budget. Other aldermen—most vocally John Friedman (Third Ward) and Haddad—believe that it is no longer necessary to sell these properties in haste because the auction of foreclosed properties brought in more than $300,000 in unanticipated revenue. They argue that the City should retain ownership of the properties until the highest and best use for each can be realized.

At last Monday's informal Common Council meeting, Council president Don Moore poured oil on the turbulent waters by saying that question of whether or not the City needs the revenue from the sale of these properties to balance the 2013 budget would be taken up by the Finance Committee. The Finance Committee meets tomorrow--Tuesday, July 16--at 5:30 p.m. The regular meeting of the Common Council follows at 7 p.m.