Follow the Money: The Marina District

TOLEDO, Ohio - You probably hear all the time about money coming to the city of Toledo projects. Sometimes the project happens, sometimes it doesn't.

FOX Toledo News is going to take a look at one project that has struggled to get off the ground, despite money coming into it: The Marina District.

Some of the places were the money was spent might surprise you if you have not really analyzed the project. For example, the city received a $3 million grant to knock down the old Sports Arena.

High weeds, a mound of gravel and the old Acme power plant now dot the Marina District property. It's certainly not the mixed use of housing, shopping and entertainment that is expected.

"It's challenging. I understand people that aren't in the development game, may now understand the patience required," said developer Larry Dillin.

"Are we impatient for vertical construction? You bet," said Toledo City Councilman Frank Szollosi.

So much money has gone into this? When you total up the grants from places like the Clean Ohio Fund, Ohio Department of Development, and Ohio Cultural Facilities Commission, the total is over $18 million. That's according to documents provided by the city of Toledo.

So what does all the money go toward? Well for example, over $13 million was spent on cleaning up the property.

"What we have to keep in mind as a community is we had to get the contaminants squared away. We've done that, the city's done that. We have a development plan now, a private development plan that we can move forward with," said Dillin.

"The cleanup of that site took an enormous amount of time. Far more than what anyone thought," said Councilman George Sarantou.

Speaking of time, a $3 million Ohio Department development grant was awarded in 2002.

"There are a lot of us that share impatience for jobs and bricks and mortar and construction," said Szollosi.

Now how about a total estimated bill. If you factor in city capital improvement funds, loans, bonds, all those grants, and money from Dillin, the number is close to $58 million.

"It's all well and good to have this money locked up for potential retail space, potential commercial space, but we need to turn some of this money into development funds for more manufacturing," said Szollosi.

So has the public money been used wisely? Dillin is pretty candid.

"Some of it yes, some of it not so much. I think some of the original property acquisition perhaps, could have been done with a better plan," said Dillin.

LIke for example, he says, asking the old land owner to participate more in the cleanup.

"Some of the values we paid for the ground is excessive, I think. More than market value," said Dillin.