DEARBORN — Dearborn voters in November approved a plan to sell the city’s 88-unit apartment building in Clearwater, Fla., a move that was spurred by city finances. Dearborn Towers was purchased in the 1960s and had been used mainly for senior citizen housing for Dearborn residents with moderate incomes. The proposal to sell the building was supported by 58 percent of voters.
The proposal commits the city to appraise the building and sell it to the highest bidder, but does not set a strict deadline for the sale. According to the Dearborn Press and Guide, the building is mainly self-supporting, but had only $880,000 in reserves, an unacceptable amount in the opinion of Dearborn Housing Director Floyd Addison. In addition, the building is likely to need a new roof in 2008. The sale was proposed and supported by Mayor John O’Reilly, who argued that the cash-strapped city could not afford to hold on to the building.
References: The Detroit News, "Dearborn voters vote sell apartment towers in Florida," Nov. 6, 2007 Dearborn Press and Guide, "Question of selling Dearborn Towers may go to voters," May 20, 2007