Providence mayor's father lives in foreclosed townhouse
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By Christine Dunn One of the six historic Colin C. Baker townhouses in Providence -- the one at 422 Broadway -- will go on the block next Wednesday, May 13 in a foreclosure auction to be held on the premises. John F. Cicilline, a prominent lawyer and father of Providence Mayor David N. Cicilline, lives in the four-family building. He did not return phone calls asking for comment on the pending foreclosure. The handsome row of six connected brick townhouses, built in 1868, is Providence's "largest and most elaborate row house," according to the Providence Preservation Society/American Institute of Architects Guide to Providence Architecture. According to Scott A. Ritch, the lawyer for the mortgage holder, BankNewport, the face amount of the mortgage is $675,000. The company listed as the owner of the house, Lantern Holdings LLC, bought the property on Feb. 21, 2003, for $375,000, according to Providence tax records, and it is assessed at a value of $558,400. A brass pate engraved "CICILLINE" is to the left of a gated door on the lower level of the brick townhouse, and the steps leading down to this door are in better repair than the steps leading up to the main front door. There are no names on a mailbox near the front door. "I do believe the mayor's father does live there at 422 Broadway," Karen Southern, the mayor's press secretary, said Friday morning. Voter registration records list 422 Broadway as the elder Cicilline's address, and the Anywho web site has a telephone listing for John F. Cicilline there. Providence deed records show that the nonprofit Providence Revolving Fund, which loans money to groups and individuals to restore historic buildings and revitalize neighborhoods, recently released a $400,000 mortgage on 422 Broadway. Clark Schoettle, executive director of the Revolving Fund, said the mortgage was placed on 422 Broadway to secure an outstanding loan the fund had made for repairs to another Lantern Holdings property, the Equitable building in downtown Providence, at the corner of Weybosset and Custom House streets. The Revolving Fund released its $400,000 mortgage on Feb. 24, but Schoettle said it has secured liens on other Lantern properties, including parcels at 434 and 442 Atwells Avenue. No representative of Lantern Holdings LLC could be reached for comment, but Providence deed records name David Corsetti as a principal member and president of Lantern Holdings LLC, which sometimes appears in records as Lantern Holding LLC. Tax records list Lantern Holdings with two addresses: 442 Atwells Ave., but that site appears to be a vacant lot near the Holy Ghost Church at 470 Atwells Ave., and 32 Custom House St. in Providence, which is owned by Corsetti Properties LLC and is assessed at a value of $1,348,500. David Corsetti is also the owner of Premier Development, which in 2006 proposed building a 10-story condominium tower called Belmonte Castello at 434-436 Atwells Ave., but that project became bogged down in litigation, according to Providence planning director Thomas Deller. 
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nice post , the name is added in the foreclosed property , and is accessed with the value of payments.
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Today foreclosed rules are implemented on properties , taxes are implemented as strict rules and are fulfilled as strict adherence .
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Skillful Economists forebode it will affirm CA 5-10yrs to get o.k. to where it was....until then the turn and holding proliferation give denigrate our localised cities
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Sean Cruz
foreclosure auctions
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Skillful Economists forebode it will affirm CA 5-10yrs to get o.k. to where it was....until then the turn and holding proliferation give denigrate our localised cities
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Sean Cruz
foreclosure auctions
Report Abuse