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Friends of Porter making offer to buy historic town hall
By PAULENE POPARAD
The non-profit Friends of Porter Inc. have offered to buy the 1913 Porter
town hall pledging a $37,500 payment now and a significant percentage of
their net profit after the Friends repair and resell the building in the
future.
Subsequent payments would be made to the town in two ways: 80 percent of the
net profits, less the Friends incurred expenses, when the building is
resold, and the remaining 20 percent of the income dedicated to the town for
a community project chosen jointly by the Town Council and the Friends.
Friends attorney Cynthia Tilden said $37,500 represents the appraised value
of the land on which the town hall sits, and that her group has a loan
commitment from the Historic Landmarks Foundation of Indiana for that
amount.
If the Town Council, which is set to consider all town hall offers at
Tuesday’s meeting, accepts the Friends proposal, closing could take place
Aug. 1, according to Tilden.
As of this morning, the Friends’ bid was the only one submitted. All bids
are public record and may be examined by other bidders. The council reserves
the right to reject any and all bids.
The Friends previously asked to negotiate a sale with the council to avoid
the public bidding process but that request was rejected and all bids are to
be submitted at a minimum $120,000.
The council said the town hall and grounds, which are zoned residential,
were appraised at approximately $140,000. All town-hall offices have been
relocated to rented quarters and the town hall is vacant except for storage.
The council intends to build a new town hall on the current site if the
building is not sold, or on another location although none has been chosen.
The cost of renovating the current town hall is set at approximately
$588,600 while a new town hall could cost about $700,000.
Tilden said if their bid is accepted, the town can save an estimated $70,000
by not paying to demolish the town hall and save an important part of Porter
history as well.
The proposed design of a new town hall done in 1998 closely duplicates the
exterior appearance of the existing downtown building.
As for the first $37,500 payment, “While it’s not the amount of money (the
council) was looking for initially,” said Tilden, “they get money to start
their construction project and it frees up energy and time so they can focus
on that.”
After the Friends take possession of the town hall, they would qualify for
preservation grants available this fall to make repairs and maintain the
structure, which has been neglected. The Friends then would resell the town
hall to a qualified buyer under restrictive covenants preserving its
historic value.
Tilden said her group hasn’t done any preliminary marketing of the town hall
yet and doesn’t know the extent of interest in it, however, the Landmarks
Foundation has offered to help find a buyer.
She also said the Friends have no estimate how much money they would have to
invest in the town hall before it is attractive to a purchaser. A study
committee last year determined that the building is structurally sound.
The final 20 percent of the purchase price given to the town would be
released after an ad hoc committee of both Friends and Town Council members
review possible community projects and one is selected to implement.
Although no project specifically has been endorsed by the Friends, Tilden
said some members have talked about a brickyard park that would be a
continuation of the proposed hike/bike trail through Porter.
Tilden noted that the state law under which the town hall is being sold
requires the town to give consideration to a non-profit organization formed
for the purpose of preservation, as was the Friends.
“I’m hoping the town will seriously consider this offer,” said Tilden. “The
town hall has been a pretty divisive issue. We’re hoping this will be a nice
resolution for both sides.”
Friends secretary Patricia Volkman also voiced optimism. “I am hopeful our
bid will be accepted. I think most of the council members really would like
to save the town hall. It’s the only place in Porter listed on the historic
register and I hope they understand that significance.”
Posted 6/20/2002
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