A local state legislator said he believes he did nothing wrong by selling his former home to a company owned by the CEO of Think Loud Development, which was awarded a $5 million state grant in July.
Rep. Kevin Schreiber, D-York City, said his house at 326 W. Newton Ave. was on the market about a month when he received an offer from Saddleback Properties LP.
The CEO of Saddleback Properties is Bill Hynes, who is part of the business group in the midst of a $16.8 million project to renovate a former factory at 210 York St.
"I emailed a whole lot of people about our house, just trying to get the word out," Schreiber said. "Ultimately, they came forward and were interested."
Sale price: Schreiber sold the house in May to the company for $106,000. The asking price was about $112,000, he said.
Schreiber said the sales price was the same amount he and his wife, Jen, spent to purchase the house several years ago. He said they also invested money in renovation.
"We didn't make any money on the deal," he said.
Schreiber emphasized the transaction was legal. There was no expectation of favors in return for purchasing the home, he said.
Hynes' business partners include Chad Taylor, Chad Gracey and Patrick Dahlheimer — three members of the rock band Live.
Hynes said he has several companies buying properties "all over the city" to be used as temporary employee housing and for visiting corporate executives.
Those include Saddleback Properties LP, 120 York LLC and Think Loud York LP.
The location: According to county records, however, only one property owned by those three companies sits outside the neighborhood around 210 York St.
That house belonged to the Schreibers, who have since moved to the 700 block of South George Street in the city.
Hynes said it's possible he owns other companies buying properties in York City, but "I don't know all the names."
Hynes said he was approached by a Realtor about buying the 326 W. Newton Ave. home.
"That one came available. It was for a fair price, and we purchased it," he said.
The property is assessed at $55,750, according to county records.
— Reach Erin James at email@example.com.