Councilman: Wells Sherman Loan 'Bad Business'
Council votes to loan $15,000 to historic house relocation effort
Kent City Council voted Wednesday to lend $15,000 to the effort to relocate the Wells Sherman House — but not without some opposition.
Councilmen John Kuhar and Wayne Wilson voted against releasing the money for the loan, which will be used as part of the effort to permanently relocate the house to the greenspace at 247 N. Water St.
Kuhar called the loan bad business on the city's part because there is no set promissory note or legal mortgage for the loan that spells out what would happen if the non-profit group receiving the loan, Kent Wells Sherman House, Inc., defaults on repayment.
"I have yet to see a finished copy of the actual promissory note or mortgage note, but evidently there’s not going to be any mortgage because we’re not asking for any security," Kuhar said. "Apparently we’ll just say they owe us."
Council voted earlier this month in committee to agree to release the loan with the simple terms of a one-year deferment on repayment with a payback period of 10 years. The ordinance authorizing the loan also stipulates it will be used as "match money" to raise additional financial support for moving the house, which remains in its temporary location at the western end of East College Avenue where it was moved in August 2012.
The loan agreement also stipulates the city will release the money after the Kent Wells Sherman House group pays for its building permit for the foundation for the house.
Roger Thurman, vice chairman of the board for the Kent Wells Sherman House, Inc., told council earlier this month that while the group owns the lot on North Water Street it does not yet have the title for the house, which is owned by Kent State University.
Thurman said the title to the house is considered clouded because of the ongoing court case involving the house and the citizen group Save the Standing Rock Garden, which is trying to block the move to the North Water Street lot.
Attorneys for the city, which also is a party to the lawsuit, and Save the Standing Rock Garden filed what are expected to be final arguments in the case this month.
"We intend to go ahead with our project," Thurman said.
Patricia
12:16 pm on Thursday, March 21, 2013
Of course they would say that, they voted against it.
Patricia
12:18 pm on Thursday, March 21, 2013
Yet they allow that stupid digital sign right at the busiest intersection in town. I've been almost hit twice because the other person driving is reading the sign and not paying attention to traffice.
Morally Motivated Woman
1:30 pm on Thursday, March 21, 2013
How is this bad business when it's preserving the history of the Kent family and this community as a greater whole? Xenias Kent built this house and we must respect that. This has gone on long enuff and the people at Standing Rock Gallerie are meddling again and wasting everyone's time.
silly sally
1:48 pm on Thursday, March 21, 2013
it's bad business sally END OF STORY
moral concerned kent historian neighbor man
2:16 pm on Thursday, March 21, 2013
"Xenias Kent built this house and we must respect that". Sorry, I couldn't care less and neither could the hundreds of college students that destroyed the house over the past few decades. It's sick how you bait people into argument, Sally.
Mars
8:21 pm on Thursday, March 21, 2013
Owning the lot but not the house you intend to move to the lot? And naturally Thurman is not backing down. Where in the world were you people while this old house was being used and abused for years and years by college kids living the "college experience"? Suddenly the house is significant? It's significance seems moot at this point.
Why not put up a marker/memorial where it stood with photos and a history lesson? Like those along the hike and bike trail and in historic places through the country? Remember it's history and importance in the community without degrading community relations?
Chris (Kit) Myers
2:18 pm on Friday, March 22, 2013
Ruller keeps saying we must be careful with city funds. Council loans money, MY money and YOUR money, at NO INTEREST on a project that is iffy at best. I would have asked how, specifically, the house is going to generate enough money to pay the loan. Will the city foreclose if payments are not made? I agree with Kuhar and Wilson. Council should have never approved that loan based on nothing but smoke and emotion.
Jason J
8:09 pm on Friday, March 22, 2013
Chris, i enjoy many of your comments, but this issue is likely a little more involved than what you might perceive from a short article on Patch. Do you know all of the questions asked during hours of council meetings over the past year, or do you glean all of your info from a short article on this website? You say, "I would have asked how...". Did you ask how? Did you ask your ward rep to ask how? Were you at those meetings? Do you know what questions were asked? If not, why weren't you at those meetings asking those questions if they were so important to you?
Unfortunately, it is so easy for those to criticize government from a laptop that no one wants to partake in direct and effective politcal discourse anymore. They just want to bitch online.
moral concerned kent historian neighbor man
8:38 pm on Friday, March 22, 2013
jason, not to defend chris (because i don't enjoy many of his comments), but those questions were asked repeatedly by many different individuals and groups in a variety of forums - with no concise or definitive answer ever provided. should fwsh default on their loan, the city will simply write it off as a loss, that's about the extent of what was shared. and to common observers like me, council lending unsecured funds to a former council member for his pet project is ethically questionable... and something i hope that comes back to bite them in the (ankle).
Chris (Kit) Myers
8:52 pm on Friday, March 22, 2013
Please, Jason, I am allowed to make critical comments. Call them "bitching" if that is what lifts your skirt. I am well aware of the continuing saga of the Wells-Sherman house. No, I do not glean all my info from a short Patch article. My council rep, Wayne Wilson, represents my feelings quite well on this particular topic.
it's almost kite flying time.
Jason J
9:03 pm on Friday, March 22, 2013
Chris, of course you're entitled to your own critical comments! I just believe they're better served before the fact, than after. I guess my comment was more directed at general 'commenters', than you in particular, but people need to speak out before the fact. Or run for council!
Chris (Kit) Myers
9:41 pm on Friday, March 22, 2013
OK, Jason. I have previously spoken my feelings on this matter. I made my after the fact comments here because i am flabbergasted that only two members of council see fit to question a rather loose deal with public money. Believe me, when I was on council from 1979 to 1983, there would have been more than two members questioning this and voting against it unless there was a tight contractual agreement.
I am not against the group buying the house and moving it. In fact I think it is great! It is a charming little house. I even thought about doing it myself but couldn't find a location close enough that I could afford to move it, and I would never take money from the university to do it because that is using public money for a private endeavor. I just think that is wrong.
Nah, not up for council again. Places to go, things to do, people to see, and so many books to read before I die.
Cheers!
Misty Jones
6:55 pm on Sunday, March 24, 2013
Plenty of people questioned these expenses without collateral or terms plenty of times and it fell on deaf ears that couldn't hear over the steamrolling. Council moved forward with approval (most likely because they don't want to irk the local banker that's involved with this deal and want more and more and more development). KWSH's response was that they are a private nonprofit and therefore don't need to share any information on how they plan to pay this or what their finances are, no transparency required. Maybe both groups should take some nonprofit coursework 101 for better business strategies. There is a local university in town after all that surely offers such a thing.
Misty Jones
6:56 pm on Sunday, March 24, 2013
And yes this was at meetings. It's all on council minutes records for anyone in doubt.
Patricia
9:59 pm on Monday, March 25, 2013
I don't know if any of you remember but there was a house on that lot before and there is no doubt in my mind that there will be a house on that lot once again.