Paramount Project Benefit - Saturday, January 21

[Towntalk]

You're not, old man, and I respect your input as well as your talented photography.

When you reach my age, being a contrarian is a natural part of the process.

[northside lurker]

GET IT RIGHT MY FRIEND I SIMPLY QUOTED THE VINDICATOR OR MORE CORRECTLY PARAPHRASED THE VINDY COMMENT!!!!!!!! If you have a beef then take it to the Vindicator!!!! NOT ME!

AS TO THE COST FACTOR, I DIDN'T SAY YOU OR ANYONE ELSE BROUGHT IT UP!!!!!!!

It's not my intention to be disagreeable.

I suppose it's possible--or even likely--that the bank made their financing contingent on receiving the tax credit.  If that's the case, then no, the person who wanted to restore the Kress Building wouldn't have the funds.

As for the cost factor, I didn't realize you were bringing it up as a separate issue.  Even if the $/sq.ft. to do the work is about the same as the Davis Building, the restoration of the Kress Building will be more because it's bigger, of course.  I misunderstood what you were getting at, because it didn't have anything to do with the Kress being in poorer condition than the Davis Building.

[Towntalk]

GET IT RIGHT MY FRIEND I SIMPLY QUOTED THE VINDICATOR OR MORE CORRECTLY PARAPHRASED THE VINDY COMMENT!!!!!!!! If you have a beef then take it to the Vindicator!!!! NOT ME!

AS TO THE COST FACTOR, I DIDN'T SAY YOU OR ANYONE ELSE BROUGHT IT UP!!!!!!!

[northside lurker]

  What about the cost factor? The Kress building is much larger than the John R Davis building.

I didn't say anything about the cost factor.  You said the Kress Building is in far worse condition than the other buildings, before they were restored.

Obviously the folks that bought and restore the Davis building were able to finance the project where the person who wanted to restore the Kress building doesn't have the funds to do it.

Two things:  When financing for the restoration of the Davis Building was sought, banks were still willing to lend money more freely.  Why do you say the person who wanted to restore the Kress Building didn't have the funds?  A historic tax credit is a form of tax abatement; the property owner doesn't have to pay taxes on the income generated by the property after the project is completed, up to the amount specified.

[Towntalk]

   What about the cost factor? The Kress building is much larger than the John R Davis building.

Obviously the folks that bought and restore the Davis building were able to finance the project where the person who wanted to restore the Kress building doesn't have the funds to do it.

One condition that should be placed on everyone wanting to restore a downtown building should be that they place 50% of the estimated cost in escrow before they get the go ahead and show documented proof that a bank is prepared to give them a loan.

[northside lurker]

The Kress Building is in similar shape to that of the John R. Davis Building, before work started.  From the pictures I've seen, the Davis building also had to be gutted, and I saw first hand that it needed (needs) facade work--including the reconstruction of the parapet.

[Towntalk]

Another example of FAILURE is the grand plan for the Kress building. In TODAY's Vindicator it is reported that the entire inside of the building would have to be gutted, including a brand new roof, saving ONLY the shell.

Historic preservation is fine and dandy ... a couple of downtown buildings were saved, BUT in their case they were in far better condition to start with such as the Ross Radio building and the John Davis building. The Kress building would NOT fall into that catagory.

[Youngstownshrimp]

Everyone in the private sector that has tried to do anything with the building has flopped and in the process crawled to City Hall for funding.

Exactly!  This is the biggest problem with the public sector, they do things without caring how they spend someone else's money.  The fact that the private sector failed should tell us do not do this white elephant project.  Youngstown is littered with grandios wasteful projects that failed.

[Towntalk]

Everyone in the private sector that has tried to do anything with the building has flopped and in the process crawled to City Hall for funding.

I would like to see the costs of asbestos removal, the total cost of demolition and the removal of the debris. When the Palace was torn down, much of the debris was buried on site, but would federal regulations allow that today. Nothing inside is salvageable such as the seats, heating equipment, and projectors. It all has to be trashed, and that means selling the scrap metal, and sending the rest to a landfill somewhere.

[Youngstownshrimp]

Yes, the asbestos is a problem, but it is a small percentage of the 4.5 billion.  Sadly I believe this project will be another Taj Mahal, like the steel museum next door.  The farmers market, the outdoor movies and amphitheater will not be able to carry this kind of investment.  Will it work, only if the leaders are those who have track record,  otherwise it will be like everything else in Downtown, subsidized.

This project seems to be a claim to fame by those who need attention, only the private sector can make this work.

[Towntalk]

You didn't have to deal with asbestos abatement and demolition in your project which by the way is to be commended. Again, you must take into consideration the costs of materials and labor.

It would be great if the money came exclusively from the York's, Carfare's and other families that support philanthropic projects and none coming out of taxpayers pockets. It would also be preferable that the organization posted where all of its money is coming from.

[Youngstownshrimp]

Amazing, give us  4.5  Million and we will give you an outdoor theatre, farmers market and an amphitheatre, what will the operating cost be?  Why do the urbanites always ask for a handout instead of doing it themselves.  Yellow Creek Theatre in Poland rolled up there sleves and did it themselves.

[Towntalk]

Thank you Jay for posting that interior shot of the Paramount. Would you happen to have any more that you can post. There are many exterior shots but precious few of the interior when it was in its prime.

[jay]

Paramount - Past

[jay]

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