MORE: Plan would link cities to Little Miami Trail
Open Options, a non-profit providing 24-hour residential care for adults with developmental disabilities, has agreed to sell the property at 200 S. Broadway for $140,000, which is $15,000 below the appraised value.
The office building would be razed and the property graded for redevelopment as a riverfront park, although the park plan was not detailed or an estimate provided during a discussion a week ago.
Tonight, the council is scheduled to vote on whether to apply for a Natural Resources Assistance Council grant that would cover 75 percent of the estimated $302,000 cost of acquiring the property, returning the flow to the original channel and shoring up the property and retaining wall at 200 S. Broadway.
RELATED: Lebanon Turtlecreek Trails Initiative
The parking lot is undermined and eroding toward the creek bank.
The property — last sold in 2013 for $147,000 — was appraised at $155,000.
Council members Steve Kaiser and Amy Monroe questioned the appraisal and suggested the city could get the property for less in light of its condition and the cost of restoration.
Assistant City Manager Scott Brunka said the city has noticed deterioration of the parking lot and “identified some significant issues with the retaining wall” at the edge of the property.
He displayed a historic photo showing the original channel.
North of the property on Broadway are the railroad tracks and station for the local tourist train.
RELATED: Lebanon to keep tourist train
Across the bridge is a park owned by the Harmon Civic Trust.
Brunka indicated the trust has set aside money to open up access to the creek, and the city would probably clear out vegetation blocking the south bank in anticipation of creation of the creekside “green space.”
A boardwalk could be added in the future.
The city would use $64,300 in stormwater management fees, collected from residents, to pay for its share of the project.
MORE: Lebanon to seek grant after all
Kaiser asked for a copy of the appraisal and said the erosion problems left the property vacant for several years before the 2013 purchase.
Brunka said he would question the appraiser about whether the condition of the parking lot and bank were considered in setting the value.
However, he said the city needed to make the grant application by mid-October.
About $2.5 million in district grant funds managed by the Ohio Department of Development were to be available, but several other projects expected to seek funding were each for $1 million, Brunka said.
“There’s certainly no guarantee we’ll get the grant,” he said, adding the erosion problems were worsening.
Follow Lawrence Budd on Twitter
Aylor agreed that the owners were probably anxious to sell the property, in light of the erosion problems.
At the same time he noted the potential for opening up the creekside for public access.
“It’s the beginning of a great opportunity,” he said.
About the Author
