There has been a sentiment as of late, and especially since the fire that downtown is somehow neglected or empty. I am sure more will come out on this in the coming weeks, but until more is known I will reserve judgement on this aspect of the problem. I’m not sure how the building wasn’t insured and why the City wasn’t aware it. Fuller pointed out, the “city of Quincy is not a bank”.Īs for the insurance, this is unfortunate. This requires bank participation and also ensures that the bank has done the due diligence on the loan because, as Mr. Today, participation loans with a bank are the standard operating procedure when city loan funds are disbursed. However, Quincy changed their loan procedure years ago. I don’t think you would have anyone in the current (or the previous for that matter) administration argue that we should give individual loans with no personal guarantee anymore, as was the case with the Newcomb. They were, and remain, funds specifically to prompt development within the City of Quincy. This wasn’t a deal where the city opened up the general fund for a project.
Horowitz was from a grant obtained many administrations ago that was given to the city for the sole purpose of loaning to developers for properties such as the Newcomb. Horowitz received and the loan process today. It’s important to understand a few key points when it comes to the loan Mr. Since the fire there have been many people who have suggested that the city should be out of the loan business. Being involved makes the City more open to developers and helps to keep Quincy growing. The level of involvement can and should be debated, but to say the City should not be concerning itself with redevelopment is misguided. However, I would argue that maintaining a safe, vibrant building stock throughout the community is something the City needs to be involved with. Let me start by saying that I agree that the City should be involved in street repairs, sidewalk improvements and any other number of other areas of public infrastructure. Chad Fuller, which I would like to take a minute to comment on. It was a very nice letter.īelow that was a letter from Mr. He wrote to thank the City Officials for how they have handled everything from the fire fighting efforts to the street closures. The first was from Tom Hilbing, owner of Hilbing Autobody.
This newspaper is owned by Phillips Media Group LLC.In this Friday’s Quincy Herald Whig there were two letters to the editor regarding the Newcomb hotel and downtown Quincy in general. The deal was completed on August 2, 2021. On January 7, 2021, Quincy Media had put itself up for sale and soon after Gray Television offered $925 million for the company, excluding the two newspapers. The Herald-Whig and Hannibal Courier-Post were owned by Quincy Media until Mawhen they were sold to Arkansas-based Phillips Media Group LLC. The Whig party was later replaced by the Republican party. president from 1829 to 1837) and his Democratic Party. In American history, a Whig was a supporter of the American Revolution or, in the 19th century, a member of a political party formed in 1834 to oppose the the policies of President Andrew Jackson (U.S. It took the name Herald-Whig in 1926 with the merger of the Quincy Herald and the Quincy Whig-Journal, founded in 1838 as the Quincy Whig. The newspaper was renamed The Herald in 1841. At the time there were only three other newspapers in Illinois, in Galena, Jacksonville and Springfield. The newspaper was first published on Apas the Illinois Bounty Land Register. The Quincy Herald-Whig covers local news, features, sports, photography and weather in west-central Illinois and northeast Missouri.
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