Colerain develops plan for old motel
The Fireside Motel has been a thorn in the side of Colerain Township for some time now and the township is getting ready to do something about it.
Plans are in the works for the township to purchase the motel, demolish it, then make way for an economic development project from Duke Energy.
According to township officials, in its current state, the motel is a drain on resources. From 2014 on, the police were called to the motel's locations more than 300 times. During that same period, emergency medical services were called 75 times.
Townships that are planning on redeveloping blighted property can use brochure printing to explain the scope of the project to residents.
In the case of Colerain, the project is a bit complicated and will involve having a subsidiary of Duke Energy purchase the motel from its owner. The township, Duke Energy and Hamilton County Community Improvement Corporation will put a purchase and sale and demolition agreement into place.
Colerain will loan more than half a million dollars to the community improvement corporation, forgiving about one-quarter of the loaned amount. The property costs $430,000 and it's estimated that the demolition will cost $100,000.
Once the project is completed, it is estimated that it will bring in more than $3m in revenue for the township over the course of 30 years.
Plans are in the works for the township to purchase the motel, demolish it, then make way for an economic development project from Duke Energy.
According to township officials, in its current state, the motel is a drain on resources. From 2014 on, the police were called to the motel's locations more than 300 times. During that same period, emergency medical services were called 75 times.
Townships that are planning on redeveloping blighted property can use brochure printing to explain the scope of the project to residents.
In the case of Colerain, the project is a bit complicated and will involve having a subsidiary of Duke Energy purchase the motel from its owner. The township, Duke Energy and Hamilton County Community Improvement Corporation will put a purchase and sale and demolition agreement into place.
Colerain will loan more than half a million dollars to the community improvement corporation, forgiving about one-quarter of the loaned amount. The property costs $430,000 and it's estimated that the demolition will cost $100,000.
Once the project is completed, it is estimated that it will bring in more than $3m in revenue for the township over the course of 30 years.