Thursday, December 07, 2000

$50K allotted for apartments

The Cincinnati Enquirer

        Cincinnati City Council approved $50,000 in emergency funding Wednesday to help manage more than a dozen Over-the-Rhine buildings that a private developer walked away from.

        New Prospect Development Co. will maintain and oversee operations at 17 buildings until the city figures out a way to end a dispute between two companies and the city that has left 50 tenants unsure whether they'll be evicted.

        The city has worked with Legal Aid to reverse earlier orders that utilities be turned off. The tenants thought they would be evicted when the building owner, Debenhan LLC, said it would return the buildings to the previous owner, Owning the Realty.

        But Owning the Realty is essentially a defunct corporation with its properties in foreclosure, property taxes unpaid and allegations that it misspent almost $1 million in federal grant money. The city has sued to recoup the money.


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