Thursday, Jul 31, 2014
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Recent Comments

mkosin - Kirk says some illegal immigrant children being sent to Illinois - Quincy, IL News - QuincyJournal.c
Just try to get on a plane with a name misspelled on the boarding pass...... just for kicks, you might try it. Won't get you anywhere. That is why those two words were capitalized.
QuincyJournal - Mendon men arrested in cannabis investigation - Quincy, IL News - QuincyJournal.com
Yeah. Too easy. BG
GuyFawkes10 - Mendon men arrested in cannabis investigation - Quincy, IL News - QuincyJournal.com
High Street.............
WarCry - Sheriff reveals attempted jailbreak - Quincy, IL News - QuincyJournal.com
Well, that was just an example of the fact that it's all outdated. The building has outlived it's lifespan, was really the point I was making. Any "improvements" are just stuck on with duct tape and staple guns (or so it seems).
migraine_in_qcy - Mendon men arrested in cannabis investigation - Quincy, IL News - QuincyJournal.com
It's going to be interesting when the pot "cultivation centers" get up and running. We'll be arresting people for doing something themselves that when licensed by the state is legal. Kinda like arresting bars for little back-room poker tournaments while state-sanctioned casinos rake in millions. I can't distill my own vodka for my own use in Illinois without paying the state an $1800…

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Initial Newcomb Hotel loan secured with life insurance policy

Initial Newcomb Hotel loan secured with life insurance policy

9 months, 4 weeks ago by Bob Gough

Initial loan made to Newcomb Realty LLC in 2003, City worked out an extension in 2005

The initial loan documents on between the City of Quincy and Newcomb Realty, LLC show the loan was originally secured with a life insurance policy on Victor Horowitz, who signed the documents purchasing the building and taking out the loan with the City 10 years ago.

Documentation from the City was acquired by Quincy Journal last month via a Freedom of Information act request.

Click here to read the original loan documents.

The loan was secured in 2003 and an extension was worked out in 2005. The initial loan was $500,000 from the City of Quincy's UDAG fund and $50,000 from Adams County's Revolving Loan fund.

Further documents show Newcomb Realty, LLC had property and liability insurance on the building from December 2007 to December 2008. Click here for that. Horowitz told City officials that the policy had lapsed because he could no longer get insurance on the vacant structure.

City officials have a meeting to update the Newcomb situation on Friday.


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