Bowling Green City Commissioner Jim Bulllington is calling for the city to dramatically increase the price it charges Lifeskills Inc. for a piece of Hospital Hill property.
Bullington says a 20 year lease that allowed Lifeskills to rent the property at 707 E. Main Avenue for $1 a year expired in 1994, when he says the company missed a deadline for written notification of renewal of the lease. But Lifeskills attorney David Broderick says the agreement is effective through 2024, and says if the city breaks the lease by asking more for rent, taxpayers may have to reimburse $400,000 in federal funds that were used to build a building on the property.
Bullington says city staff were wrong in not informing the commission of the issue back in 1994, and that the city has been missing out on fair market rent for 10 years. Bullington, a real estate agent himself, says $60,000 a year is fair value.
By a 4-1 vote, the commission tabled the rent raise until more information can be gathered on the decision. Bullington says that's election year politics, but commissioners who spoke to WBKO say they just want to make a well-informed decision.
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