Politically Connected?

                                                  This deal smells dirty! Where are the Feds? 

From 2d City Coppers 

Why is the City Broke?

This might explain part of it:

• City officials Tuesday defended a decision to sell a former firehouse in Jefferson Park effectively for $10 and turning down an offer of $300,000 from the nearby Copernicus Foundation.
  
  The Copernicus offer never offered evidence of financing, a clear plan and a timetable for its project, said a city spokesman.
  
  In July, the city’s Community Development Commission agreed to sell the building at 4839 N. Lipps Ave. to an affiliate of Ambrosia Homes Development. Its proposal calls for adding one floor to the two-story brick building — vacant for about 10 years — and to convert the ground floor into a pub and restaurant for Lake Effect Brewing. The rest of the building would be turned into nine apartments.
  
  Ambrosia, led by Tim Pomaville, agreed to pay environmental remediation costs at the property, estimated to be worth almost its appraised price of $208,000. Hence, the stated price of the sale was $10, according to a report to the CDC. Copernicus responded when the city advertised for competing bids.

Financing? It was $300,000 in cash, plus a commitment to being the building into environmental compliance, estimated by the competing bid at $208,000.

The other guy (politically connected?) offers $10 and because the compliance cost is equal to the cost of the building itself, a net zero dollars.

Cost to the taxpayers - about half-a-million?

Meanwhile, Groot's budget hole gets bigger and bigger.