September 16, 2010


Pharasphere won the bid for $1 in January, 2008, because they were suppose to "move forward quickly", but were given until September 1st, 2009 to obtain a building permit before they have even have to take title to the property within ten days for $1.

Even ithough they did not have the building permit on September 1st, 2009, the Terms of Conveyance (TOC) can not be terminated until September 1st, 2010 as long as Pharmasphere "has pending applications to obtain such permit and is diligently pursuing such permit."    Evidently they were in fact "diligent".

September 1st has passed, one would assume that the TOC has expired, but I have heard that they are being given more time.    It will be three years in January that this property has sat in limbo without one penny of taxes being paid.   Now we are putting all hopes on Converted Organics buying Terrasphere to make Pharamasphere happen, although it appears to me all three of these companies are in essence the same people?


Jahn said...

Assuming I was looking at correct parcel on the city website.... #49 Yes We Can-a-berry 75,000 sq ft valued at $247,000. I figure the city has left about $24,000 in real estate tax revenue on the table over the last 3 years while Pharmashpere does it's circle jerk with the city.

$24,000 is just the tax revenue from the land. If the building and equipment was on site for 2 of those 3 years, I figure that has to be at least another $75,000 to $100,000 left on the table.

Bill you got this one right. This whole deal may well be going up in smoke.

Would someone please tell me why I should volunteer my services to the city, subsidize the clearing of the citys snow covered sidewalks, or give to the local elementary school when I this kinda BS going down. Dittos for the average city employee who takes 9.5 sick days per year.

David, what would your employer do if you took 10 sick days per year and all of them fell on Fridays or Mondays. Can you say that you might get Canned-a- berried?

Bill Randell said...

Lets not forget an abutting business lost this RFP, who bid 50,000.

Three years this January..

Jahn said...

Bill, the city, if it was a human being, it would be deemed to have some kind of personality disorder. Maybe even a mental illness.

City seems to always pick the wrong dev'ment partners and what s/b a 1 year courtship turns into half of a decade and often the bride still hasnt got the wedding band and in some cases not even the diamond (earnest money).

I mean look at the lengthy time frames on the following projects:

a. Mason St
b. Summer St church.
c. City Sq I
d. Airport
e. Canterbury St.
f. Rogers Memorial

Argueably there are sometimes extenuating circumstances, but some of these delays should not be tolerated.

The $50,000 bidder on the Canterbury St site has to seething about now

David Z. said...

Jahn said, "David, what would your employer do if you took 10 sick days per year and all of them fell on Fridays or Mondays. Can you say that you might get Canned-a- berried?"

Actually I try to take as many Fridays off as I can. Love those three day weekends! :)

Anonymous said...

Bill...Thank You for your following this! Keep holding their feet to the fire!

Harry T

Jahn said...

Are those sickday Fridays yew take off or planned haul-aaaah -daize?

daVID YOU SHOUD GET A FED'L govt job then. I know of 2 fed'l employees who have 7.5 hour work days. Now mine you these are professional positions. They work an extra 3/4 of an hour each day for 9 days. Then they get every other Friday off. Imagine being in a professionl position in a private co. and working 8 1/4 hours per day and getting every other Friday off. Priceless!!!!!

David Z. said...

Most of my work days are at least 10 hours. And I'm a salaried employee so no time & 1/2 for me.

Anonymous said...

What was Downtown Julie's role in this? She seems to be a common denominator in unrented retail space in garages, museums being kicked out, restaurants forced to close, etc. Just askin'.