Wednesday, Oct 22, 2014
Quincy, IL News - QuincyJournal.com
Trending on the Journal

Related Headlines

Man who burned down Newcomb Hotel arrested again

Clark gets probation for theft that led to Newcomb fire

Man charged in Newcomb Hotel fire will plead guilty next week

Newcomb Hotel demolition to begin by the end of February Updated

Newcomb cleanup bid at $441,000

Recent Comments

SeenTheLight1 - Despite record yields for farmers, Titan\'s Taylor sees down year for tires in 2015 - Quincy, IL New
Please re-read the article... it said a FLAT year. That means no expected growth and no expected losses.So spectulating and crying doom is very premature.
ONCEMORE1 - Illinois Early Voting starts: Cook County ballot box tries to cast GOP votes for Democrats - Quincy,
"After extensive testing, the machine was found to be performing as intended", Scalzitti went on to say..........;)
1950Brutus - Despite record yields for farmers, Titan\'s Taylor sees down year for tires in 2015 - Quincy, IL New
Layoffs probably inevitable but speculating on a move out of state or country is premature. As for your other questions I would refer you to Rosanne Rosanadanna - her first response would be "You sure ask a lot of questions for somebody from New Jersey". Sorry to the youngens out these who weren't exposed to Rosanne - very funny stuff.
Stupid_Dems - Strawman: I Trusted The President...... - Quincy, IL News - QuincyJournal.com
Seriously? This article is like saying the sun will come up in the morning! Hell yes he's a liar. End of discussion! Move along nothing to see!
ONCEMORE1 - Illinois Early Voting starts: Cook County ballot box tries to cast GOP votes for Democrats - Quincy,
Yep, calibration----that's what it is. Calibrated to elect the Dimmokrat NO MATTER WHAT!!

Most Popular

Authorities make meth bust on Madison

Adams Co. Divorces for 10/17

Nursing unions call for better Ebola preparedness

School Board to outline plans for savings, old buildings if referendum passes

Tournear Promoted to JWCC Nursing Admin Chair

Despite record yields for farmers, Titan's Taylor sees down year for tires in 2015

QU to Host Science Family Fun Night

Bill Clinton to address workers at pro-Quinn rally

Initial Newcomb Hotel loan secured with life insurance policy

Initial Newcomb Hotel loan secured with life insurance policy

1 year 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.


From the Newsroom

Bob Gough on Twitter

Bob Gough 22 minutes ago

RT @robneyer: Wait, someone's surprised that Randy Choate is highly specialized and pitches just 36 innings per season? http://t.co/JR5CPiv…
QuincyJournal on Twitter

QuincyJournal 33 minutes ago

Postseason high school soccer TONIGHT on QJTV - QHS travels to Edwardsville to take on Alton http://t.co/Uz1es0t6ae
QuincyJournal on Twitter

QuincyJournal 5 hours, 33 minutes ago

Quincy School Bond referendum videos http://t.co/UCdcGYtgqZ
QuincyJournal on Twitter

QuincyJournal 5 hours, 35 minutes ago

Illinois Early Voting starts: Cook County ballot box tries to cast GOP votes for Democrats http://t.co/ZGFJdbimJf