![\"The](\"https:\/\/www.thevwindependent.com\/news\/wp-content\/uploads\/2015\/02\/Tire-Waste-Transport-building-2-2015.jpg\")
<\/a>The mayor noted that, while the city is not planning to purchase the property, which includes 3.5 acres of land and a completed facility that includes production and office space, it would likely do so if no other bidders are there.<\/p>\n
\u201cI would prefer not to,\u201d Mayor Farmer said, adding, \u201cI\u2019m pretty sure there\u2019s going to be bidders present there that are interested in the building.\u201d<\/p>\n
If the city would purchase the property, which would only be the case if no one made a reasonable bid for the land and facility, the mayor said the property would be turned over to the Community Improvement Corporation for resale to a future buyer.<\/p>\n
The city has a significant vested interest in the property, since Lloyd Linton, owner of the property, was given a $180,000 city revolving loan to help pay for the cost of purchasing the land and building the facility, which has been sitting unused for at least three years. Mayor Farmer said the entire $180,000 balance is still outstanding on that loan.<\/p>\n
The mayor also noted that City Law Director John Hatcher has been pursuing legal action the past two years against Tire Waste Transport to recover the revolving loan money, action that has culminated in the sheriff\u2019s sale being held this Friday, starting at 10 a.m., in the hallway of the Van Wert County Courthouse.<\/p>\n
According to Mayor Farmer, the city is No. 3 on the list of creditors for the property, which also includes tax and mechanics liens totaling approximately $20,000 that take precedence over the revolving loan.<\/p>\n
The best-case scenario would be that someone would purchase the building for enough to cover the liens and the entire revolving loan amount, but it\u2019s far from certain that something like that would occur. The property is valued for tax purposes at $150,000.<\/p>\n
The mayor did note that he has talked to the state development officials concerning the revolving loan, adding that state officials have stated, in writing, that whatever proceeds the city receives from the sheriff\u2019s auction of the land and facility will take care of the city\u2019s liability for the remainder of the loan money, which was awarded to the city through the state development agency.<\/p>\n","protected":false},"excerpt":{"rendered":"
DAVE MOSIER\/independent editor Van Wert City Council approved a resolution authorizing Mayor Don Farmer to be a bidder at a sheriff\u2019s auction being held for the Tire Waste Transport Inc. property in Vision Industrial Park during a special meeting held Tuesday in Council Chambers. The mayor noted that, while the city is not planning to […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-60888","post","type-post","status-publish","format-standard","hentry","category-news"],"publishpress_future_action":{"enabled":false,"date":"2026-07-03 04:02:34","action":"change-status","newStatus":"draft","terms":[],"taxonomy":"category","extraData":[]},"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"_links":{"self":[{"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/posts\/60888","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/comments?post=60888"}],"version-history":[{"count":0,"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/posts\/60888\/revisions"}],"wp:attachment":[{"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/media?parent=60888"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/categories?post=60888"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/tags?post=60888"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}