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Findlay committee approves port-authority sales of two city properties after debate over transparency
Summary
The Findlay City Finance Committee voted to proceed with port-authority transfers for two city-owned parcels — the Hostetler site and a North Main Street fire/traffic building — after discussion about environmental remediation, appraisals and whether sales should go to public auction.
The Findlay City Finance Committee voted on Nov. 18 to move forward with sales of two city-owned properties through the Blanchard Valley Port Authority after a prolonged discussion about environmental liabilities, appraisal methods and public transparency.
Speaker 1, who addressed the committee as Mayor during the meeting, said the port-authority mechanism is routinely used for targeted economic development and lets the city transfer property directly to a public entity or specific end user while retaining protections. "It allows for flexible economic development in property acquisition, financing, and disposition of properties," Speaker 1 said, adding the approach can "ensure fair market value based on appraisal" and include reversion and remediation provisions.
On the Hostetler parcel, Speaker 1 said the city purchased the site in 2012 for $270,000 and…
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