Broderick Tower Official Thread

[davewindsor]

The Broderick, which was less than 30 days away from being foreclosed upon, is still in the hands of Higgins.

How much is the Broderick being foreclosed for?

[PQZ]

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?

[Huggybear]

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?

Can he be divested of the ability to hang the ads under the agreements?

[48202]

Can he be divested of the ability to hang the ads under the agreements?

Wouldn’t that be vindictive?

[Huggybear]

Not if he misrepresented what he was doing with the money.

Wouldn’t that be vindictive?

[Fnemecek]

I missed this one when it was first posted. Now that this thread is alive again, I figured I should respond.

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.

PQZ:
Please make up your mind as to what you want to attack the FOBC for. First, you say we never attended public meetings; then you say we say that we were at the HDC meeting lobbying on behalf of this billboard.

For the record, the FOBC never took a position on the Broderick billboard - either pro or con.