Annie Lytle School Purchased

[thelakelander]

Plans to demolish and to renovate the old school just off Interstate 95 have gone back and forth through the past few years. Most recently, Foundation Holding, which owned the property, wanted to convert the 1917 building into apartments for seniors.

The company still wants to do that, but it doesn't own it anymore. It just owns all the property around it. Doug Milne, who represents Foundation Holding, said the company consciously didn't pay its taxes on the building in order to give it up.

"The liability exposure was just too great," Milne said. "The constant repair work and vandalism correction was too much, so we let it go. It was a tough decision to make, but it was a practical one."

Tarpon IV LLC, based in Aventura, bought the 44,000-square-foot building earlier this year for an $86,600 tax deed. Tarpon has purchased 39 Jacksonville properties through tax deeds and many more elsewhere in Florida.

But in addition to still owning most of the property on the block bordered by I-95, Chelsea, College and Roselle streets, Foundation Holding kept a narrow strip of land completely surrounding the building.

That way, Milne said, any development will require both owners. But he hasn't heard from Tarpon IV.

Foundation's plans call for 33 apartments in the building and another 100 on the property next to it, with a price tag of about $18 million.

http://jacksonville.com/business/2010-11-08/story/shopping-center-plans-spring-fall

[billy]

Is this new news ?

[Noone]

Yes. And its scary.

[fieldafm]

This tax lien purchase happened almost 6 months ago.

[acme54321]

Sounds sketchy.

[Cliffs_Daughter]

Yes. And its scary.

To say the least.

Code Enforcement has scheduled a "Special Master" hearing for Annie on 11/18 @ 10 a.m.  I have no clue what that means, but if I can find a way to go to it I will.

[Coolyfett]

Sounds like they trying to get it torn done and not taking the blame. Does Riverside need more Senior Living?? smh at that idea.

[Dog Walker]

I talked to the representative of new owner and took him on a tour of the school within a few weeks of the investment firm purchasing the deed for back taxes.

He was completely stunned by the school; both the quality and soundness of the construction and the destruction of the interior.  They had no idea what they were buying.

They have no plans for the building themselves.  That is not the business they are in.   They will try to find a buyer with a plan.

[Dog Walker]

Sounds like they trying to get it torn done and not taking the blame. Does Riverside need more Senior Living?? smh at that idea.

The investment firm that has it now does not intend to tear it down.  The land under it isn't worth the cost.

The real question should be how Doug Milne was able to have the school cut out of the existing property that was part of the school originally.  No one can do anything with the school without buying the property that he still holds.  Slick!

[CS Foltz]

Dog Walker.......sounds like a tax dodge and then some..............I wonder what "Timkins" take on this is?

[Dog Walker]

Not a tax dodge, but a way to get rid of the liability of the school without having it effect the remainder of the property.  Wonder how he got the re-plat done.

[Captain Zissou]

Is Timkin aware of this??  I figured he'd be blowing this thread up.  This sounds like bad news.

[Cliffs_Daughter]

Is Timkin aware of this??  I figured he'd be blowing this thread up.  This sounds like bad news.

I'm sure he is by now. I've emailed him.

[Timkin]

Timkin is aware of all of this ...and I know as much as any of you know.  At one point, I had Jonathan Politano , the owner of Gulf Group Holdings ( the parent company of Tarpon) on the phone... I asked if he would be willing to put any money into the School. The answer he directly gave me was yes... Later I received a call from David Egozi, his agent..who was rather pissed, because I presume he thought I subverted him and went to Politano directly. That was NOT the case.. it happened that Politano answered the phone.  He was abrupt and basicly told me they wouldnt put a dime in to the building.  So there you have it.  If anyone would like to contact Gulf Group, feel free .  (305-913-3333) or you can email David Egozi : Degozi@g-g-h.com  OR you can call and ask to speak to either of them.. they have since refused to speak to me.

My take on this:    It cannot be good.   

[Timkin]

As a footnote , I might add that a ton of younger people willing to participate in the cleanup effort, have been being put off on an answer because I cannot get these people to return calls or emails.. It is even more frustrating than before, if that was possible..  With One owner owning the building and the land under it and another , basicly landlocking the building by keeping all the property around it, IMO it will be nothing short  of a MIRACLE FROM GOD, DIRECTLY that it is ever saved, spared , and reused.