EAST LIVERPOOL — The former East Liverpool Motor Lodge now is owned by the city’s Community Improvement Corp.

The board agreed Monday to accept donation of the real property located at 2340 Dresden Ave., which was recently valued at $1.75 million.

During the gathering, which was preceded by a meeting of the CIC’s property maintenance board, East Liverpool Mayor Greg Bricker expressed the city’s excitement for the acquisition.

“This is a tremendous opportunity for the city,” he explained.

The property was owned by ELML Investments LLC, which is owned and managed by Eli Gunzburg, who also operates Valley Oaks Care Center.

ELML had invested more than $2 million since purchasing the property in March 2016 to prepare for an assisted living development.

However, due to the “current uncertainty presented by COVID-19 and increased construction costs, the project became unrealistic,” so Gunzburg decided to offer the building back to the city, according to a press release sent before the meeting.

CIC President Pat Scafide explained several weeks ago Gunzburg had contacted him and offered to donate it by year-end, adding, “The only thing that can match your generosity is our tenacity.”

Scafide and the board later went on to accept the gift and a bid from the Veterans Energy Group to finish securing the property. He also said the CIC will pay the $8,720 in property taxes before the property becomes tax exempt.

Ironically, Scafide said that it was the East Liverpool Motor Lodge that mobilized the city to create the CIC in the first place, so they could facilitate acceptance of an Urban Development Action Grant for that project.

“We are back full circle now. It is weird how things work out,” he added.

“It is our joint vision that this property be restored to its prior grandeur and live its new life with new purpose to become the location where life events are celebrated carrying on the 40-year tradition at this location, and to best service the needs of the city of East Liverpool and its residents,” Gunzburg said. “I am confident in the organization’s long-standing commitment to the growth, safety and welfare of (the city and its citizenry.)

In other action, Scafide announced the resignation of longtime board member Sherrie Curtis.