Why politicians make lousy real estate developers and vice versa

Other peoples money. That’s the key to real estate, and especially real estate deals managed by those we elect who are supposed to be working in our best interest.

We’ve see stupid deals in Dayton for a long time, and they seem to slide along into oblivion in the mind of the public. No one got hoisted by their petards on the Arcade deal, or the Arcade tower, or the Wayne Avenue Kroger, or…. the list gets really long.

Let’s just say this: politicians raise bad real estate deals to a new art form. And locally, there are plenty of failures. However, it would appear that the deals by the Dayton Public School Board of Education may take the cake. This is a long video. But, it should make it pretty clear that there are serious questions about the deals they’ve done, the ones they’ve refused to do- and who’s been driving the deals- and questions about his entanglements.

We look closely at the site downtown on E. First Street where Patterson Co-op once stood, a greenfield, ready for development, and the site on Wyoming at Alberta where Patterson Kennedy Elementary once stood- near Miami Valley Hospital and the University of Dayton.

We’ve spent the last two months pursuing this story- and trying to figure out why Dr. Adil Baguirov seems to be the only member of the Board of Ed- including the school superintendent, that knows what’s been going on when it comes to these deals- and we’re wondering if this is by design.

If the schools wanted to optimize the value of these vacant properties, the key factor would be what property taxes will the development generate to the district in addition to the sale price- nothing else.

Watch the video. We’ll post supporting documents later.

Here is “Dirty Deals Done Dirt Cheap” featuring the Dayton Public Schools Board of Education, the Dayton and Montgomery County Port Authority, the former DPS operations Chief John Carr, the DPS board attorney, Jyllian Bradshaw and CareSource.

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5 Comments on "Why politicians make lousy real estate developers and vice versa"

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[…] vu all over again, this sounds like the CareSource deal, which only the guy who has a private business in the health care sector seemed to know all the […]

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[…] is someone going to investigate Baguirov’s role in the real estate negotiations that sold the Patterson Co-Op site for half the value of a parking lot…? Why wasn’t the board and superintendent informed of a $900K offer on the Patterson Kennedy […]

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[…] Corr has come on board, and while he was the President of the School Board, we’ve seen an insider deal to sell the Patterson Co-op site to the Port Authority (for a handoff to CareSource), an odd dismissal of an private developer’s offer on the Patterson Kennedy site near UD and […]

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[…] The actions of this school board are criminal- in the public discussion of the severance contract for David Lawrence (who btw was previously in charge of eligibility for athletics- before he was sent to the doghouse by Rhonda Corr), the conflict of interest of Dr. Baguirov in negotiating the bus buy outside of district channels, and questions about the disposal of real estate by the district. […]

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[…] and UD, the site of the former Patterson Kennedy Elementary School, that this blog featured in my post and video “Dirty Deals Done Dirt Cheap”. Of course, I wasn’t still at the meeting when this was discussed, but how can a board vote to […]

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