Kenwood Towne Place settlement reached on publicly-financed garage

Contractors get $2.3 million to cover unpaid bills

a a a a
Share this story

CINCINNATI - It took four years, but a group of contractors who worked on the parking garage at Kenwood Towne Place will be getting a final paycheck soon. A court-approved settlement will deliver $2.3 million to 14 contractors who filed liens against the project in 2009.

Kenwood Towne Place was a $175 million construction project that stalled in late 2008 when developers ran out of money. That led to one of the most complicated foreclosure cases in Hamilton County's history and a federal criminal probe that has so far resulted in two indictments for bank fraud.

The Feb. 5 settlement, approved by Hamilton County Common Pleas Judge Beth Myers, clears one more hurdle to enable retail developer Phillips Edison & Co. to restart construction on the project.  It will cover $1.25 million in expenses that the Port of Greater Cincinnati Development Authority said was needed to complete garage construction. It will also let MBJ Consultants close the books on a $404,000 unpaid bill. Company President Monroe Barnes will receive a $252,331 payment from the settlement, roughly 60 percent of what he was owed.

"It'll help us start looking forward instead of looking backward again," Barnes said.

Here's a list of all contractors and payments headed their way because of the settlement:

Lithko Restoration Technologies

 $448,680.00

Lithko Contracting Inc.

 $440,164.00

Otis Elevator Co.

 $301,070.00

OK Interiors Corp.

 $253,411.00

MBJ Consultants

 $252,331.33

Architectural Glass & Metal Inc.

 $231,722.00

Baker Concrete Construction Inc.

 $172,101.00

LaForce Inc.

 $87,466.45

Mark Madison Company

 $77,397.44

Baumnett LLC

 $41,000.00

Ford Development Corp.

 $15,000.00

Tepe Environmental Services

 $13,523.76

Jarvis Mechanical Contractors Inc.

 $10,000.00

Security Fence Group

 $7,281.02

 

Copyright 2013 Scripps Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Print this article

Comments

Hmm... It looks like you’re not a WCPO Insider. or Subscribe now to contribute!

Market Summary
The Dow Jones Industrial Average SM is proprietary to and is calculated, distributed and marketed by Dow Jones Indexes, a licensed trademark of CME Group Index Services LLC and have been licensed for use. "Dow Jones(r)", "Dow Jones Indexes" and "Dow Jones Industrial Average SM" are service marks of Dow Jones Trademark Holdings, LLC. "CME" is a trademark of Chicago Mercantile Exchange Inc. All content of the Dow Jones Industrial Average (c) CME Group Index Services LLC 2010.