Correspondence re E.3 - June 15, 2016 - Meeting Portal

6/13/2016
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City of Reno Mail - Fwd: Agenda item E3, regarding demo of downtown motels
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Beverly Beaty-Benadom <[email protected]>
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Fwd: Agenda item E3, regarding demo of downtown motels
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1 message
Calli Wilsey <[email protected]>
Mon, Jun 13, 2016 at 12:07 PM
To: CityClerk <[email protected]>, Ashley Turney <[email protected]>, Beverly Beaty-Benadom <beatybenadom [email protected]>
Cc: Cynthia Esparza-Trigueros <[email protected]>, Barbara DiCianno <[email protected]>, Madeline Burak
<[email protected]>
Hi Ashley,
Please see the email below for inclusion in the public record for the 6/15 meeting. Thanks!
Calli
-------Forwarded message----From: Jim Pfrommer <[email protected]>
Date: Mon, Jun 13, 2016 at 10:16 AM
Subject: Agenda item E3, regarding demo of downtown motels
To: "[email protected]" <[email protected]>, "[email protected]" <[email protected]>, Cynthia Esparza-Trigueros
<[email protected]>, Barbara DiCianno <[email protected]>, "[email protected]" <[email protected]>, Madeline
Burak <[email protected]>
Cc: Alex Woodley <[email protected]>
Mayor Hillary Schieve
Reno City Council members
Reno City Manager Andrew Clinger
Mr. Alex Woodley
Regarding: Council meeting, June 15, Agenda item E.3.
I am a local CPA and one of 3 managers of the LLC that owns the majority of the block that includes Reno Vulcanizing.
We do not own the northerly 20 % that is still owned by the Reno Vulcanizing families. On this city block reside the
motels that are scheduled for demolition in July.
We are just the managers of the LLC; the members of the LLC are the actual owners of the land and buildings noted
above. The ownership of this land occurred when the members/owners repossessed the property in late 2014; in 2006,
the members/owners loaned significant sums of money in 2006. Due to the great recession, the loan went in default and
the lenders become owners via a deed in lieu of foreclosure. There are 68 owner/members, many of whom have nothing
in common with the others except for being co-members/owners of this land. Their common goal is to obtain a
reasonable return, via sale of the land, on their original loan amount.
The original owners, represented by Nick Pavich and Steve Polikalas, are not the current beneficial owners of this
property. Nick is one of the current 3 managers and, generally, my vote and that of the 3rd manager (another CPA)
control the LLC discussions.
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6/13/2016
City of Reno Mail - Fwd: Agenda item E3, regarding demo of downtown motels
We, the managers, were approached by the City of Reno to have the City front the cost to have certain buildings
demolished, with the caveat that all monies advanced by the City would be totally repaid upon the sale of the land. We
canvassed the members/owners in the LLC, who strongly believed this would be good for the city to rid the site of
vacant, unsightly buildings on Virginia Street. And, if it helped developers to see progress being made downtown, so
much the better.
Hopefully, with this email, I have clarified that:
a. the owners of the land and boarded up motels are simply your fellow citizens wanting to see things happen downtown
so that they can sell their land and recoup a decent amount of their original loan
b. the owners are thankful that the City of Reno has taken steps to remove blight, with the recorded deed of trust
ensuring that the City will be totally reimbursed. There is ample value from a future sale to reimburse the City.
I will try to speak at the June 15 Council meeting; but, I cannot get to Council chambers until 2:15. If you want me there
to ask questions of me and clarify something, please move the agenda item accordingly and advise me.
Sincerely,
James L Pfrommer
Co Manager, North Center Street Group LLC
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Calli Wilsey
Community Liaison
Office of Communications and Community Engagement
(775) 689-8459
1 E. First Street, Reno, NV 89501
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