As with anything on a balance sheet these days, the Water Street property has taken a nosedive value wise vs what the city has and it paying on it.
According to the Ann Arbor News, the property is worth between 7-11 million US cash dollars. The city on the other hand has spent around 23 million US cash dollars on the property. The value and the property itself will be on the Ypsilanti City Council's agenda tonight. Rumors say some are interested in it. That would be delightful but we're not holding our breath. Besides, nobody is going to pay 23 million for it so Farmer's Folly will for quite a while be a blight on city finances.
Show up, be heard: tonight's meeting is at 7 p.m. at City Hall, 1 S. Huron St.