Monday, May 4, 2015
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qfingers - Quincy Fire Station #6 set to shut down - Quincy, IL News - QuincyJournal.com
If I'm reading the budget correctly here it appears hydro is paid off this fiscal year. See page 185. http://www.quincyil.gov/files/documents/document/... Budget shows about $3.853M total debt service of which hydro is $1.458M. Our total debt at end of this year is such…
qfingers - Quincy Fire Station #6 set to shut down - Quincy, IL News - QuincyJournal.com
#1 The total city council budget is $258,000. Cutting the entire budget would not even come close to funding 1 fire station. #2 The Mayor can't "take away" anything. The council would have to approve changes for subsequent members of the council as they can't change their own compensation (in either direction). And good luck getting them to decrease any such thing.
WarCry - Quincy Fire Station #6 set to shut down - Quincy, IL News - QuincyJournal.com
Please look up the Quincy city municipal code and show me which passage allows the Mayor to "take away" anything from anyone. As you may (or may not, I suppose) have noticed, the entire city council had to vote on the budget cuts. The Mayor didn't make any cuts. He proposed a budget. Implying that the mayor made these changes demonstrates either 1) a lack of understanding of the city government…
OneMansPoison - Fire on North 27th - Quincy, IL News - QuincyJournal.com
Okay, DMtnDew. So, when Mrs. Smith's toaster oven catches fire, by the time the FD gets there, it's the size of her TV. Whoa! Better hire more firefighters!
OneMansPoison - Quincy Fire Station #6 set to shut down - Quincy, IL News - QuincyJournal.com
jungle, you seem to think the firemen are earning their pay by climbing skyscrapers, lunging head-long into burning buildings, rescuing your neighbor's cat, etc. Maybe the police are chasing perps down dark alleys, jumping fences with both guns blazing, all while making sure they don't infringe on folk's rights? The majority of their time is spent otherwise, really. They are good people,…

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City of Quincy begins Newcomb foreclosure process

City of Quincy begins Newcomb foreclosure process

2 years, 8 months ago by Bob Gough

City Committee questions why building's property taxes went up 25 percent

The City of Quincy's Economic Development Loan Committee is beginning the foreclosure process on the Newcomb Hotel.

The company, Newcomb Realty LLC, owes the City $487,537 in principal, interest, fees and back taxes on the property on the southeast corner of 4th and Maine. The principal balance is $410,323.

The Committee voted to have the City’s Legal Department begin the process.

Committee members also voted to pay the 2011 property taxes due on the building. Approximately $17,000 will come out of the City’s discretionary loan fund. The Committee took a second vote to attempt to find out why the building’s taxes went up 25 percent compared to the 2010 taxes.

Another company, 3 Diamond Development, had stepped forward in an attempt to turn the historic hotel into an assisted living facility with a $15 million renovation. But that deal fell through earlier this year.

Victor Horowitz and his Newcomb Realty LLC took out a $500,000 loan from the City eight years ago and that’s who 3 Diamond was going to assume the debt from under the name of a new company, Newcomb Quincy LP. But now it’s back to Horowitz, who has long been delinquent on the loan.

Newcomb Realty LLC also owed Adams County $49,640.96 from a $50,000 loan taken out the same time as the loan with the City, but the County forgave that loan in order to allow the City to proceed with the foreclosure.

Quincy Mayor John Spring said the City now has financial institutions share in the risk of development loans the City makes so there will not be another case like the Newcomb where multiple owners have borrowed money from the City only to see the building remain stagnant. Spring said the east side of the building, where a three-story addition was built on, has the most problems, but he's been assured by structural engineers that the main building is "structurally sound".

Earlier this year, City Planner Chuck Bevelheimer said there has been some local interest in the Newcomb, but nothing he was prepared to elaborate on at the time.


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