Mahoning commissioners settle an Oakhill lien

Mahoning commissioners settle an Oakhill lien

YOUNGSTOWN — Mahoning County commissioners have settled the smallest of four liens on Oakhill Renaissance Place, and another one is well on the way to being paid in full.

The county bought Oakhill — the former Forum Health Southside Medical Center — for $75,000 last year in U.S. Bankruptcy Court, subject to all liens on the property.

On Thursday, the commissioners approved a $14,347 settlement agreement with Innerscope Technical Services Inc., a Mineral Ridge hazardous material abatement contractor, which had sued the county for foreclosure and enforcement of its mechanic’s lien.

Bankruptcy Trustee Andrew Suhar said he has given the county’s $75,000 purchase payment to Chase Bank, which has a lien on the property stemming from the $100,000 loan that bank made to keep Oakhill operating during last year’s bankruptcy proceedings.

Suhar said, later this month, he will pay Chase an additional $15,000 to $20,000 from a bank account and rental income left over from Oakhill’s former owner, the bankrupt Southside Community Development Corp.

That will leave about $20,000 to $25,000 to be paid by the county to complete payment to Chase Bank for the principal and interest on the loan, Suhar said.

For the complete story, see Friday’s Vindicator and Vindy.com.