July 23, 2014 at 2:10 p.m.
Mortgage acquired by JJCL
Weiler Building an option for local learning center
The John Jay Center for Learning has acquired the mortgage on the Weiler Building and initiated foreclosure proceedings in an effort to get control of the property.
“The John Jay Center for Learning is exploring several options for a permanent facility in downtown Portland,” JJCL board president Doug Inman said this morning.
One option — outlined by JJCL officials in June of 2003 — was to construct a new 12,000-square-foot building at the site of the former home of a lumber company just north of the Salamonie River along Meridian Street for the learning center. But an architectural study of the Weiler Building conducted last summer indicated the building was structurally sound and could be restored for about $1 million. The cost of building a new structure had been estimated at $3.5 million.
A foreclosure complaint was filed Thursday afternoon by JJCL against Paul and Sally Detwiler of New Albany, owners of the Weiler Building, located at the southeast corner of Main and Meridian streets in Portland.
The JJCL alleges in its complaint that the Detwilers are indebted for a note in the sum of $109,000, with an interest rate of 15 percent. According to information in the filed complaint, as of Jan. 28, 2003, the Detwilers owe an unpaid principal balance of $39,879 and interest totaling $5,981.
The complaint also requests that a $125 title expense, $5,000 in attorney fees and $24,597.50 of unpaid property taxes from 2001 to 2003 be included in the judgment.
With the complaint filed, the Detwilers have a chance to prove that the complaint is not valid or pay the owed funds. If no action is taken by the Detwilers, a judgment will be filed in court and the building will then go up for a sheriff’s sale and be sold to the highest bidder.
A preliminary study for potential development of the building was completed in July 2003 by Kato Smith & Associates of Anderson, thanks in part to a grant from the Historic Landmarks Foundation of Indiana.
Three restoration options figured by Smith and Associates carried price tags between $979,000 and $1.4 million. The company also figured that demolition would cost about $200,000 and estimated that demolition plus construction of a new building on the same site would cost $3.8 million.
Smith’s study determined that restoration of the 49,500-square-foot building was “highly recommended.”
Funding for the Smith study came from a $2,500 planning grant from the Historic Landmarks Foundation of Indiana, which was matched by several local donors, including some members of a 12-person ad hoc committee appointed by the Portland Area Chamber of Commerce to address the problem posed by the deteriorating structure at Portland’s busiest downtown intersection.
Smith concluded that “the building needs replacement of most interior finishes and all mechanical systems, but it is very feasible for adaptive reuse.”
The steel structure building has concrete floors and foundation and masonry exterior walls. According to the study, although there are many areas of water damage there is very little damage to the structural integrity of the building. The roof of the building is heavily damaged while the windows are salvageable. According to the study, reusing the windows dramatically lowers renovation costs.
The JJCL received an anonymous donation of $1 million in 1999 to be used for a learning center campus in downtown Portland.[[In-content Ad]]
“The John Jay Center for Learning is exploring several options for a permanent facility in downtown Portland,” JJCL board president Doug Inman said this morning.
One option — outlined by JJCL officials in June of 2003 — was to construct a new 12,000-square-foot building at the site of the former home of a lumber company just north of the Salamonie River along Meridian Street for the learning center. But an architectural study of the Weiler Building conducted last summer indicated the building was structurally sound and could be restored for about $1 million. The cost of building a new structure had been estimated at $3.5 million.
A foreclosure complaint was filed Thursday afternoon by JJCL against Paul and Sally Detwiler of New Albany, owners of the Weiler Building, located at the southeast corner of Main and Meridian streets in Portland.
The JJCL alleges in its complaint that the Detwilers are indebted for a note in the sum of $109,000, with an interest rate of 15 percent. According to information in the filed complaint, as of Jan. 28, 2003, the Detwilers owe an unpaid principal balance of $39,879 and interest totaling $5,981.
The complaint also requests that a $125 title expense, $5,000 in attorney fees and $24,597.50 of unpaid property taxes from 2001 to 2003 be included in the judgment.
With the complaint filed, the Detwilers have a chance to prove that the complaint is not valid or pay the owed funds. If no action is taken by the Detwilers, a judgment will be filed in court and the building will then go up for a sheriff’s sale and be sold to the highest bidder.
A preliminary study for potential development of the building was completed in July 2003 by Kato Smith & Associates of Anderson, thanks in part to a grant from the Historic Landmarks Foundation of Indiana.
Three restoration options figured by Smith and Associates carried price tags between $979,000 and $1.4 million. The company also figured that demolition would cost about $200,000 and estimated that demolition plus construction of a new building on the same site would cost $3.8 million.
Smith’s study determined that restoration of the 49,500-square-foot building was “highly recommended.”
Funding for the Smith study came from a $2,500 planning grant from the Historic Landmarks Foundation of Indiana, which was matched by several local donors, including some members of a 12-person ad hoc committee appointed by the Portland Area Chamber of Commerce to address the problem posed by the deteriorating structure at Portland’s busiest downtown intersection.
Smith concluded that “the building needs replacement of most interior finishes and all mechanical systems, but it is very feasible for adaptive reuse.”
The steel structure building has concrete floors and foundation and masonry exterior walls. According to the study, although there are many areas of water damage there is very little damage to the structural integrity of the building. The roof of the building is heavily damaged while the windows are salvageable. According to the study, reusing the windows dramatically lowers renovation costs.
The JJCL received an anonymous donation of $1 million in 1999 to be used for a learning center campus in downtown Portland.[[In-content Ad]]
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