No Deed Restriction on TPS Libbey deal
Story released earlier today for Toledo Free Press – Libbey legislation does not include deed restriction for those of you following the discussion concerning the proposed development agreement between TPS and the City of Toledo.
The basic gist, sources believe it was a simple misstatement made by Deputy Mayor Steve Herwat at the April 26 Agenda Review, that there was no formal request for a deed restriction. The topic of how could TPS be protected if there was a future scenario where Toledo could not complete the project was part of the discussions, but that aspect was directed to the legal department. Both TPS and Toledo stated the deed restriction was not part of the legislation.
More details on the linked article.
Also on the topic of the Libbey proposed sale, President and Publisher Tom Pounds weighs in — Cowboys ride again. Pounds references some of the concerns voiced during Council’s agenda review on the cost of the project and should the historic building part of Libbey be demolished, who would own that piece of land.
Categories: Toledo Area