Marina District deal back on the table
Fri, 27 May 2011 01:41:15 GMT —
Mayor Mike Bell wrapped up his nine-day trip to China Thursday.
The mayor may have been able to breathe new life into the Marina District project which has been stalled now for several years. It appears a deal with a Chinese investment firm is back on.
The Dashing Pacific group has renewed their offer to purchase 69 acres of Toledo TMs Marina District for $3.8 million.
The firm sent a letter to Toledo Mayor Mike Bell Thursday reaffirming their interest. The letter expresses their interest in purchasing the remaining land under a two-year agreement. But that's not all.
Dashing Pacific is also interested in the 25-acres at the former Acme Power Plant site. This is a major turnaround.
Last month they backed out of the initial deal to buy the Marina District.
"This is a good thing, hopefully we can get this voted on and do our due diligence," said Toledo City Councilman Mike Craig.
If an agreement is made the new offer will comply with the terms of their existing offer. The mayor is expected to ask for a vote at Tuesday TMs meeting.
He is also planning to address the proposed use of the Marina District site at a meeting Friday afternoon. Dashing Pacific currently owns the Docks restaurant complex, which they purchased in February for $2.15 million.