Great Deal
I am not sure how much you know about real-estate and its value but I think we should explore your use of the word ''willing''. Clearly when the owners bought the pool they were into the pool and over the years with the burden of their time and their money it took to maintain the pool, it grew old to them. A swimming pool is a specialty business and there are not many willing to enter into the business. In hard economic times that potential market of buyers gets even smaller.
I believe a few years ago the swim club owners were willing to sell that pool for the $900k plus but no one including the city was willing to pay that amount.
Now we have a city wanting to expand its parks and recreation department and that city started imposing impact fees a couple of years ago. For this same city to go out and build a new pool it would have cost nearly $2 million and the city would be left with the burden of trying to build that business up from the ground. So not only does the city get a pool for around one third of the new cost it gets a ready built customer base.
I think the only question here is can the city maintain the current level of users at the pool and are they willing to be just as creative and expand the facility to accommodate even more users.
I believe there are those in the townhsip that have their nose in a snit and they want to expand and increase our property taxes for a recreation board when the city can do this without them and they have no say. The township trustees have refused to consider impact fees and so now live with it. ALthought these trustees claim to be creative I think this pool aquisition was very creative and it was done without any help from the township.
I am not sure how much you know about real-estate and its value but I think we should explore your use of the word ''willing''. Clearly when the owners bought the pool they were into the pool and over the years with the burden of their time and their money it took to maintain the pool, it grew old to them. A swimming pool is a specialty business and there are not many willing to enter into the business. In hard economic times that potential market of buyers gets even smaller.
I believe a few years ago the swim club owners were willing to sell that pool for the $900k plus but no one including the city was willing to pay that amount.
Now we have a city wanting to expand its parks and recreation department and that city started imposing impact fees a couple of years ago. For this same city to go out and build a new pool it would have cost nearly $2 million and the city would be left with the burden of trying to build that business up from the ground. So not only does the city get a pool for around one third of the new cost it gets a ready built customer base.
I think the only question here is can the city maintain the current level of users at the pool and are they willing to be just as creative and expand the facility to accommodate even more users.
I believe there are those in the townhsip that have their nose in a snit and they want to expand and increase our property taxes for a recreation board when the city can do this without them and they have no say. The township trustees have refused to consider impact fees and so now live with it. ALthought these trustees claim to be creative I think this pool aquisition was very creative and it was done without any help from the township.
