YWCA Dayton later vacated the Timbercrest property, which is still owned by the ADAMHS board.
Manning is facing multiple indictments in Franklin County over allegations related to investment fraud, which he says are false.
The sale of the property was contingent on board approval after the auction. ADAMHS board members did not comment on their decision during the public portion of the meeting, and they declined to comment immediately following the meeting.
The board voted to repost the property on GovDeals starting on April 3 and ending April 22.
“I’m disappointed at their decision,” Manning said Wednesday evening. “I think that it would have been a great fit for the neighborhood.”
Manning’s plans for the property were to put in residential assisted living homes with a wellness center where there was once an administrative building.
Manning’s winning bid was $2.13 million, he said, adding that the bid for the property went up by $1 million during the last hour of the auction.
“I just think it’s a loss for the community,” Manning said.
The property is currently valued at about $5.6 million, according to Montgomery County property records. The state of Ohio originally transferred the property to the ADAMHS board in June 2019.
The Ohio Department of Commerce Division of Securities in December announced Manning, of Columbus, had been indicted by a Franklin County grand jury on 19 felony charges related to investment fraud. Those charges include unlawful securities practices, grand theft, false representation in the sale of securities, and securities fraud.
“Those allegations are false, and we’re going to just work through them,” Manning told the Dayton Daily News last week.
The funds in question were a working capital loan rather than securities, like a stock or bond, he said.
According to the indictments, Manning allegedly solicited at least five central Ohio residents to invest more than $640,000 in promissory notes issued by his company, Blue Logic Capital, for a variety of projects.
“This case is an unfortunate reminder that there are individuals who will attempt to manipulate and steal from others for their own gain,” said Ohio Securities Commissioner Andrea Seidt.
“It wasn’t any misuse or misappropriation or anything like that. We were diligently working through a number of projects, and then COVID hit and shut everything down,” Manning said.
The cases against Manning are currently still active in the Franklin County Common Pleas Court. Trial dates are currently scheduled for May. Manning is out of custody on a recognizance bond.
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