By JIM BUTLER
It appears certain GAEDA does not intend to honor its agreement to participate with the city in restoration and use of the former Weiss & Goldring building and court action is in the offing.
The Authority is past due on payment obligations to the city and its commissioners are seemingly taking legal advice not to pay.
A vote this week to purchase a downtown building as the agency’s future home seals the deal, some think.
The vote to buy the tract at 726 Murray for $780,000, bypassing the state Bond Commission in the process, raised issues of its own.
Praised by City Council members Jules Green, Cynthia Perry and Malcolm Larvadain as a step forward for the city and the economic development panel, it is criticized as hastily done by others.
That quarter claims the purchase a preemptive move in the face of vows by former commissioner John Callis to “reform”, in his opinion, GAEDA, through the courts if necessary.
That camp also believes the decision to bypass the bonding process was spurred by the possibility of questions that panel might ask regarding Callis’ recent win in a state Supreme Court ruling.
Regarding the “hasty” claim — GAEDA has been entertaining thoughts of a permanent home for some time.
The most-recent specific mention, according to minutes, was in July and concerned a Jackson Street property under consideration.
In August a commissioner asked for an update regarding that. Minutes do not reflect details of any update.
Most public bodies hold minutes content to the required minimum.
When the Murray Street site came into play isn’t known. The panel’s September meeting consisted of its annual retreat.
The property improvements currently house four attorneys and a coffee shop, with additional rental space available. Current annual rental income is $65,000.
GAEDA, like any other public body, is required to obtain an appraisal of property before purchase and cannot pay more than the appraised value.
If either the buyer or seller is a public agency and is aware a public official may have a pecuniary interest in a transaction it must by law disclose that at least seven days prior.
Any public official with such an interest in such a transaction must by law disclose that at least five days prior.