Monday, February 07, 2011

Mayor Bell to sign MOU on Marina District with Chinese investors

Dashing Pacific Group is now interested in the Marina District as well as the Docks.

Press release from the City of Toledo:

Bell to sign memorandum with investors interested in Marina District

Toledo Mayor Michael P. Bell expects to sign a memorandum of understanding (MOU) on Tuesday before City Council's economic development committee hearing with investors interested in the Marina District. The MOU is not a solid offer for purchase, but indicates that Dashing Pacific Group is interested in purchasing and developing the riverfront district pending the successful purchase of The Docks restaurant complex.

Dashing Pacific Group made an offer to purchase The Docks in January of this year and Council will contemplate the proposal at their hearing beginning at 10:30 a.m. on Tuesday morning, February 8th. The administration has asked for a vote on the sale at the full meeting of council on Tuesday afternoon.

Mayor Bell will be available for comments following Tuesday's hearing.



Mad Jack said...

Are you sure that doesn't stand for Mayor Bell Owes yoU?

DDBOOTS said...

So tell Bell and everyone at Toledo City Council to sign and sell everything in sight to the Chinese.
It does not mean that the Citizens and Public need to support or go there to whatever the Chinese do or don't put at any property.

Then the Chinese could also just leave the property empty, be an eye sore, or better yet since it will be the Chinese owning it they could resell the property to even yet anohter unwanted, awful country to buy it from them.

Hurray, Toledo, Ohio can boast they they are to be renamed
China 2, Ohio!

skeeter1107 said...

I personally know individuals living in Toledo and the suburbs that are doing real estate deals outside of Toledo well beyond the $2 million amount.

So the obvious question to me is "why can't these people invest in Toledo?" "What is stopping them?"

The answer to that has typically been the desire on the part of local politicians to control the projects. Control taking a variety of meanings. Anywhere from whom will do the work(unions) to the actual design.

So if I were the Chinese, I would review the old Chinese proverb, "beware what you wish for, you might get it."

I wish the Chinese the best of luck. They will need it after the glow is gone and they are no longer the developer dejour.

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