(Toledo, OH) After denying a loan forgiveness request last month, the Toledo City Council has received a new offer from Bruce Douglas to sell the Uptown Arts Apartments on Douglas street.
At Tuesday’s council agenda review meeting, city officials presented a new offer from Mr. Douglas to pay the city $175,000, in exchange for the city forgiving the loan and transferring to the buyer the city-owned property on which the apartment complex was built.
The previous proposal would have netted the city only $10.