Blackwell pays Moline $2.4 million owed on KONE Building

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MOLINE- Financial District Properties' (FDP) Rodney Blackwell has paid off the loan he owes to the city for the Kone Towers, on the city's riverfront.

Blackwell was in the process of selling the new Kone Tower two months ago to an out "out of state purchaser," according to city Planning and Development Director Ray Forsythe, but Blackwell still owed more than $2.3 million to the city.

In a written statement Monday, August 21st, Forsythe said the city received the $2.4 million payment from FDP, but he does not know who bought the new tower. According to their website, FDP has owned the building since 2010.  In June, Heritage Church bought the old Kone Tower on the east side of I-74, that Blackwell also owned.

Wednesday, August 23, Blackwell told WQAD News 8 that the new tower is full with employees from Kone and Infosys Limited. In the written statement released Monday, Forsythe also credited Blackwell with the development. Forsythe said the results of the building were positive despite the Great Recession of the late 2000s.