"The $Million Dollar closed Firestation"

[Youngstownshrimp]

The holdings dt are mostly empty.

[Youngstownshrimp]

What Jazz218 asserts is very powerful stuff, and if his info. Are facts, this is what the authorities are after. This could potentially blow the whole City financial leadership out of the water.  Jazz Man please theorize more.

[northside lurker]

That really sucks... the city could USE a new fire station to replace the one at Elm and Madison....

Nothing said here indicates that the city will not eventually build a new fire station to replace the current station 7.  On the bright side of a potentially shady deal, since the city no longer owns the current station at Elm and Madison, they can just end their lease whenever the new station is ready.

[AllanY2525]

That really sucks... the city could USE a new fire station to replace the one at Elm and Madison....

[Peggy Gurney]

Actually, the deal was basically a money laundering scheme. City gave Marchionda 1mil from waste water and water funds for fictitious "improvements" related to campus housing project. M turned around and purchased fire sta. for you guessed it: 1 mil. The hook was that city was 1mil short in its general fund and needed the waste water money transfer to balance the books. As a reward, city continued to "lease" fire sta. from M.

Just one more way of attempting to legitimize the use of water and wastewater funds for other non-related purposes. The only problem is, now someone has to answer where the 1 mil in improvements are???

Wow... 

[jazz218]

Actually, the deal was basically a money laundering scheme. City gave Marchionda 1mil from waste water and water funds for fictitious "improvements" related to campus housing project. M turned around and purchased fire sta. for you guessed it: 1 mil. The hook was that city was 1mil short in its general fund and needed the waste water money transfer to balance the books. As a reward, city continued to "lease" fire sta. from M.

Just one more way of attempting to legitimize the use of water and wastewater funds for other non-related purposes. The only problem is, now someone has to answer where the 1 mil in improvements are???

[iwasthere]

f I am not mistaken that fire station is still operable and it has an in house staff and crew of fire wo/men.

[AllanY2525]

When he bought the land for the new dorms on Madison Ave, the deal was that he also bought the
old firestation at Madison and Elm for the future addition of another dorm building.  In return for
the land, he was to give the city money to build a brand new fire station elsewhere.


I think I also read somewhere that he bought some land across from the new dorms on the North
side of Madison Ave - something to do with parking, etc.

[Peggy Gurney]

You're talking about the firestation at Elm and Madison, correct?  Or am I thinking of the wrong one........

[Youngstownshrimp]

I would think the Hipsters who were decrying regentrification would be all over this subject, at least all eight of them.

[Youngstownshrimp]

In the center of the Marchionda legal battle relative to his skyscrapers in downtown Youngstown is the $Million fire substation?  When I first read of this transaction awhile back, I honestly thought of it as a typo, I guess   
The amount is right.  When Gatta bought the V2 building for $120K, I scratch my head why would anyone pay $Million for a closed obsolete Firestation?