|From:||Lenny Siegel <email@example.com>|
|Date:||Mon, 1 Jun 2009 10:09:30 -0700 (PDT)|
|Subject:||[CPEO-MEF] REUSE: No money at South Weymouth (MA)|
Lack of money stalls transfer of land at former air base to SouthField Steve Adams Quincy Patriot Ledger (MA) June 1, 2009WEYMOUTH - The agency in charge of the SouthField development still has no money to acquire the remaining 900 acres from the Navy and could run out of operating funds in September, its CEO said.
"Right now we have no foreseeable way of coming up with the money needed to close," said Kevin Donovan, head of the South Shore Tri-Town Development Corp.
The Navy is pressuring Tri-Town to prove it can come up with $43 million to buy the land so the agency's private developer, LNR Property Corp., can go to work.
Donovan also would like to renegotiate that price, which was agreed upon last March. Since then, the overall real estate market has continued to slide.
... For the entire article, see http://www.patriotledger.com/business/x64522716/Official-SouthField-agency-could-run-out-of-money-by-September -- Lenny Siegel Executive Director, Center for Public Environmental Oversight a project of the Pacific Studies Center 278-A Hope St., Mountain View, CA 94041 Voice: 650/961-8918 or 650/969-1545 Fax: 650/961-8918 <firstname.lastname@example.org> http://www.cpeo.org _______________________________________________ Military mailing list Military@lists.cpeo.org http://lists.cpeo.org/listinfo.cgi/military-cpeo.org
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