When the KCLBA acquired the tax-foreclosed Walker building, the organization discovered the tenant – a company that prints directly onto glass and plastic bottles – was facing bankruptcy. KCLBA also found that Haviland Chemical, which had often worked with the printing company, had been negotiating with a local bank to be able to take possession of the equipment. Recognizing there were jobs on the line, the KCLBA helped facilitate a smooth transition that allowed Haviland the time to finish the deal with the local bank.
“As the listing agent for this building, we saw tremendous value in the KCLBA’s work. The building was a mess when they first acquired it and they did a fabulous job with the renovation, turning it into a building any municipality would like to have. The KCLBA’s work made it much easier to find a quality buyer and will make it far more likely to attract a good tenant.”
Jim Decker, NAI West Michigan
Once Haviland had taken possession of the equipment and employed those who operated it, the KCLBA went to work rehabilitating the Walker building and finding a trusted investor to buy it.
By working with the private sector, the KCLBA was able to give Haviland the time it needed to wrap up the transaction with the bank. In addition to helping save jobs, the KCLBA kept business revenue in Kent County by rehabilitating a run-down building in disarray and reestablishing the building as a tax-generating property for Kent County.