Howard Hodge bought the Madison Theater at a foreclosure sale this week, and he intends to buy it again next month when the Kenton County master commissioner puts the theater back on the auction block because of a legal technicality.The first sale was voided because ads that the commissioner believed were placed in The Kentucky Post did not appear. The Enquirer handles advertising for both the Enquirer and The Post as part of a joint operating agreement.”It’s nobody’s fault and there’s nothing we can do about it,” said Hodge, retired housing director for the city. “The sale needs to be done properly, so it will have to be rescheduled.”

The requirement that ads run for three weeks will push the sale at least to the end of January.

“I do anticipate I will be the successful bidder at the next auction,” said Hodge, who was the only bidder Tuesday, offering $400,000 for the theater at 728 Madison Ave. and an adjoining office and apartment building.

The properties, appraised at $1 million, are being foreclosed on by National City Bank, formerly Provident Bank of Cincinnati. The bank is owed $3.2 million by owners Esther and Charles Johnson.

Hodge said he also has paid an undisclosed amount to the bank and now essentially holds the $3.2 million debt. Whatever is bid at the auction, up to $3.2 million, would be paid to him. That gives him a $3.2 million edge on any other bidder.

As soon as he gains control of the building, Hodge wants to get work crews inside to spruce it up. Meanwhile, he’s been busy making music industry contacts. He hopes to open the doors by Feb. 24 for a Mardi Gras celebration featuring the local band Robin Lacy and DeZydeco.

Posted: 01|1|06 at 1:20 pm. Filed under: US News.