City to sell Albion Street building for $1 - News, Weather, Sports, Toledo, OH

City to sell Albion Street building for $1

The City of Toledo is planning to sell off another piece of real estate, through a proposed sale of the former fleet operations building on Albion Street. The proposed sale price is only $1, but Councilman Rob Ludeman says considering the condition of the building, it's a good deal for the city.

"We have someone interested in taking it off our hands. That way we don't have to do maintenance anymore. We don't have to keep up utilities. We don't have to worry about vandalism. We put it on the tax rolls and income tax with the employees that'll work there," said Ludeman.

Even though the building has an appraised value of roughly $200,000, the evaluation of the building reveals significant repairs are needed on the roof, as well as the electrical and fire security systems, and environmental issues on top of that. The proposed buyer is businessman Ford Cauffiel, and his attorney says the plan is use the building for a metal products business which would employ between 20-25 people. The deal could be approved by council as early as next week.   

Copyright 2012 Toledo News Now. All rights reserved.

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