“Of course, we got the denial that the board had approved buying the Cumberland Insurance Building in Sadsbury for $3.45 million, but merely approved negotiations to purchase the building. Since it would appear that the price for the building is set, one wonders what the forthcoming negotiations are about — what snack to serve at the closing?...MORE AT:
The building is currently owned by Cumberland Insurance Company. The Chief Operating Officer of Cumberland is Rick Ritter. Yes, the same Rick Ritter that is currently Vice President of the Board of Education and chair of the Finance Committee.
Now of course, it’s entirely possible this is a completely innocent fact. But, let’s be honest: it looks like hell. Common sense dictates that buying a building in a depressed real estate market from a member of the Board of Education is, at best, a tough pill to swallow. At worst, it’s going to have people calling for a criminal investigation.”
CASD building purchase is adisaster waiting to happen
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