Youngstown sells fire station for $1M to company

YOUNGSTOWN — The financially struggling city sold a fire station on Madison Avenue today for $1 million to a company planning to build student housing.

But the sale does nothing to help the city’s financial bottom line, said Kyle Miasek, deputy finance director.

That’s because the city expected to sell Fire Station No. 7 and built the $1 million purchase price into the 2009 general fund budget, he said.

The city’s general fund is still on target to have a deficit of more than $1 million this year, Miasek added.

US Campus Suites LLC, which is constructing The Flats at Wick student housing complex, plans to use the Station No. 7 property for a second phase.

That second phase is at least three years away, city officials say.

In the meantime, the city will lease the one-truck, three-man fire station from US Campus Suites for $10 a year.

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