The Bucket Blog

Of course you don’t.  That’s because it’s gone.  What is it that is gone?

The “Opening 2008” sign at the Division Street Hotel

Yep, the City has exercised it’s right to reclaim the property from Division Street Hotel LLC (DSH).  The first order of business after the City Council approved the action was for Mayor Doyle to file an affidavit .  This affidavit basically sets out the time line and title to the property reverted back to the City upon the filing.  The second order of business was to take down the embarrassing sign.  Having driven by on Saturday, it was indeed gone.

This does not mean this is the end of the matter.  The attorney for the developer, Carpionato Properties, indicated back in June of 2009 when he addressed the City Council that his client would exercise all of his legal rights.  (There is a $1.6 million figure floating about that the developer indicates he has put into the property.)

The Council at it’s September 9th meeting recognized two issues of concern.  One was the lost of tax revenue now that the property has reverted back to the City.  The other, was the possible long drawn out legal battle that could ensue.  Both seem to be short term negatives offset by the long term positive gain to the City.

This entry was posted on Monday, September 21st, 2009 at 8:57 pm and is filed under City Council, City of Pawtucket, Division Street, Mayor. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.