Quote Originally Posted by davewindsor View Post
How much is the Broderick being foreclosed for?
Its not being foreclosed upon any more. Thats the point. The City has no leverage to get Higgins to do any more than bare minimum on the buildings.

There was $350,00+ outstanding that was triggering the City to be able to foreclose on the Broderick and the Farwell.

Higgins sold the Historic Commission on the concept that if he were allowed to hang the big ad, he would use the moeny to do predevelopment and then redevelope the building. FOBC and others suppoorted this. The DDA and HDC staff advised that he was likely to pay off liens, keep the buildings as is and do nothing.

He took his payments and paid off the liens and tax debts. That was nearly four years ago.

Where is the pre-development? Where is the project in moving forward? A building collapsing does not count as progress.

Higgins now has a steady income stream and no motivation to actually do anything with the buildings. He can continue to pocket the advertising incrome from now until the building collapses. Why should he invest the ad cash in a project that doesn't pencil when he can continue to collect the ad cash and take skiing trips to the Alps? He's owned the buildings for how many deacdes now?