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Veterans might lose their VFW post if they can't pay company who bought it for double the cost

Posted at 10:25 PM, Jan 17, 2019
and last updated 2019-01-17 23:20:13-05

BEDFORD, Ohio — It's a place where veterans come to be themselves. Where they share a drink with fellow one another and forget about the worries of the day.

"This is where we come to socialize and gather and just be around people that we can be comfortable with," said Vietnam Veteran Willie Adams.

But pretty soon their safe haven could be gone.

"We got behind in our taxes and because we got behind so deep that we couldn't pull ourselves out," said Adams.

Adams told News 5 the Bedford VFW Post 1082 went into foreclosure last year and a company called Peak Investments LLC bought it.

"We would like to raise enough money to at least like to make them an offer that would be acceptable to them where we can purchase the building and maintain our status here," he said.

But that was before Adams learned what the company wanted for it. Peak Investments bought it at the foreclosure price of nearly $120,000 but they want to sell it back to the veterans at more than double that price.

"It is very hard, especially when they're making demands that we can't meet," said Adams.

Right now they're on a month-to-month lease with the company for $1,500 a month. They asked to lower that payment but that request was rejected.

"We have a banquet hall that we rent, we can't live on a month to month lease, we've got to have a lease with tenure so people can plan and we can rent the hall," said Adams.

News 5 spoke with the attorney representing Peak Investments and he admits the purchase price is much more than his client paid, but says the tax assessment for the property was much more. He says his client tried to work with the vets and even got them in touch with a bank, but says these vets are late on their rent payments.

"People always say thank you for your service and welcome home," said Adams. "If you really want to welcome us home and thank us for our service, donate to our cause, to help us keep this building alive."

If you're interested in helping the veterans, click here.