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* CLP REPORT *
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[November 30, 2018, 08:01:38 AM]
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[November 28, 2018, 11:40:53 AM]

Author Topic: * CLP REPORT *  (Read 2759726 times)

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gore range

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Re: * CLP REPORT *
« Reply #11220 on: March 01, 2018, 10:07:41 AM »
January 28, 2018
New lawsuit seeks Beach Club settlement
Appeals court last year awarded insurance money to local taxing bodies

by Valerie Meyers, Erie Times-News
The company that operated the Beach Club at Conneaut Lake Park is suing park trustees for almost $500,000 in insurance proceeds.
A federal court this past spring awarded $478,261 of the $611,000 settlement on the club to local taxing authorities to cover the park’s delinquent property tax debt.
The money rightfully belongs to Park Restoration LLC, which paid for the fire insurance and was not obligated to pay any property taxes under its management agreement with Conneaut Lake Park trustees, said John Mizner, lawyer for Park Restoration.
   Park Restoration operated the Beach Club from November 2008 until it burned down in August 2013.
Conneaut Lake Park trustees were responsible for paying park property taxes and had no fire insurance on the club or other park structures, Mizner said in a new complaint in Crawford County Court.
   “Our money was taken for taxes on the entire 55 acres and not the less than one acre that we sat on,” Mizner said. “And we did not have any obligation to pay property taxes, not even on the spot we occupied. We wound up paying property taxes we had no obligation to pay, and Park Restoration is out of business.”
The new lawsuit claims trustees were “unjustly enriched” by the settlement paying taxes that they were obligated to pay.
The lawsuit also claims that Park Restoration is entitled to indemnity, or protection from loss, since proceeds from the insurance that it paid for were awarded by a court to pay Conneaut Lake Park debt.
   The 3rd U.S. Circuit Court of Appeals in May awarded the bulk of the insurance settlement to local taxing bodies.
   The decision reversed a May 2016 U.S. District Court ruling awarding the entire $611,000 insurance settlement to Park Restoration.
   The 2016 ruling overturned a December 2015 U.S. Bankruptcy Court decision awarding the bulk of the insurance settlement to local taxing authorities.
   The case came under the jurisdiction of the federal courts when Conneaut Lake Park trustees filed for Chapter 11 bankruptcy protection for the park in December 2014. The court in September approved trustees’ financial reorganization plan for the park.
   “We went through the federal courts simply because (Conneaut Lake Park) trustees were in bankruptcy and were under the protection of bankruptcy court,” Mizner said. “Now that the park’s (financial reorganization) plan has been approved, lawsuits can be brought where they originally would be heard, in common pleas court in Crawford County.”

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Janetplanet

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Re: * CLP REPORT *
« Reply #11221 on: March 01, 2018, 10:48:25 AM »
I logged on hoping for our interactive discussion.  Guess I lose.
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handle every stressful situation like a dog.  pee on it and walk away.

gore range

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Re: * CLP REPORT *
« Reply #11222 on: March 05, 2018, 01:19:51 AM »
....year in review; 2017 local news press ‘reporting” headlines:

18JAN2017 Conneaut Lake Park leaders approve management company
By Keith Gushard Meadville

19JAN2016 Conneaut Lake Park trustees seek solution to dock issue
By Keith Gushard Meadville Tribune

21JAN2017 Camperland expansion still moving forward
By Keith Gushard Meadville Tribune

23JAN2017 Third lot sells at CL Park
By David Schaef The Community News

31JAN2017 Conneaut Lake Park's real estate debt cut in half since bankruptcy filing
By Keith Gushard Meadville Tribune

09FEB2017 Judge dismisses man's claims of ownership of Conneaut Lake Park
By Keith Gushard Meadville

15FEB2017 Extended hours coming for Conneaut Lake Park's water park
By Keith Gushard Meadville Tribune 

18FEB2017 Expected land sales mean no docks this year at Conneaut Lake Park
By Keith Gushard Meadville

19FEB2017 Turning a corner: Conneaut Lake Park emerges from bankruptcy
By Valerie Meyers Erie Times NEWS

08MAR2017 Judge tosses Harris' $1.4 million claim to Conneaut Lake Park
By Keith Gushard Meadville Tribune

15MAR2017 Conneaut Lake Park trustees close to selling more property to make up tax debt
By Keith Gushard Meadville Tribune

27MAR2017 CL Park lot sales may be down to one
By David Schaef, Community news

06APR2017 Conneaut Lake Park's 125th anniversary celebrated with pre-opening day dance on May 20
Meadville Tribune

12APR2017 Sale of two more lots moves Conneaut Lake Park closer to paying off tax debt
By Keith Gushard Meadville Tribune

19MAY2017 Trustees of Conneaut Lake Park to lease out 10 docks behind former Beach Club
Meadville Tribune

03MAY2017 Appeals court: Taxing bodies to get $478,261 in Conneaut Lake Park case The 3rd U.S. Circuit Court of Appeals reverses a U.S. District Court judge’s decision in a long-running dispute that involves the Crawford County amusement park.
By Valerie Myers goerie.com

03MAY2017 Appeals court: Insurance money from Beach Club fire goes to taxing bodies
By Keith Gushard

18MAY2017 Value of Beach Club property argued in court 
By Mike Crowley Meadville Tribune

25MAY2017 Conneaut Lake Park Improves As Opening Weekend Nears   
By Keith Gushard Meadville Tribune

28MAY2017 Conneaut Lake Park a top stop on opening day
By Keith Gushard Meadville Tribune

14JUN2017 Conneaut Lake Park showing signs of revenue growth
By Keith Gushard Meadville Tribune

21JUN2017 EDITORIAL: Trustees of Conneaut Lake Park should be commended for efforts thus far Meadville Tribune

23JUL2017 Conneaut Lake Park celebrates 125 years of fun
By Lorri Drumm Meadville Tribune

25JUL2017 Value of Conneaut Lake Park's Beach Club rests in federal judge's hands
By Keith Gushard Meadville Tribune

07AUG2017 Conneaut Lake Park is having a successful season
By Valerie Myers Erie Times-News

09AUG2017 Our view: Numbers bode well for Conneaut Lake Park
By the Editorial Board Erie Time-News 

14AUG2017 After Decades Of Decline And Disrepair, Conneaut Lake Park Is Turning A Profit
By Valerie Myers | Erie Times-News 

16AUG2017 Ghost Lake at Conneaut Lake Park to continue after founder's death
By Keith Gushard MeadvilleTribune

17AUG2017 Trustees of Conneaut Lake Park repay all delinquent property taxes
By Matt Knoedler MeadvilleTribune

17AUG2017 Conneaut Lake Park expected to have one of best seasons in years
Conneaut Lake Park in Crawford County, Pennsylvania operates Friday through Sunday
WKBN Staff

24AUG2017 Crawford County's first escape room opens at Hotel Conneaut
By Jane Smith Special to the Tribune

22SEP2017 Revenues grow as Conneaut Lake Park pays off tax debt
By Keith Gushard Meadville Tribune

16OCT2017 'Drop' signals end to another successful Pumpkin Fest
By Keith Gushar MeadvilleTribune

19OCT2017 Trustees offering ownership to land lease holders at Conneaut Lake Park
By Keith Gushard  MeadvilleTribune

15NOV2017 Another lakefront lot sale at Conneaut Lake Park approved
By Keith Gushard MeadvilleTribune

16NOV2017 About 70 percent appear in favor of turning Conneaut Lake Park leases into ownership By Keith Gushard  MeadvilleTribune

20DEC2017 Conneaut Lake Park excess land sale could lead to Dollar General near park
By Keith Gushard Meadville Tribune

24DEC2017 Trustees drop lawsuit against former Beach Club operator
By Keith Gushard Meadville Tribune

31DEC2017 Meadville Tribune's #2 2017 News Story- Conneaut Lake Park pays off tax  debt
By Keith Gushard Meadville Tribune
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gore range

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Re: * CLP REPORT *
« Reply #11223 on: March 06, 2018, 04:57:58 PM »
  For newer readers, contrary to the local media headlining and ‘reporting’ that the park operations have ‘turned around’, with the park ‘making a profit’, and ‘is exiting bankruptcy’, as thoroughly factually documented on this site citing official federal bankruptcy court filings,-[/]

....it is certainly not the first time the park and local media have caught either , ignoring, miss-representing, erroneously miss-reporting the documented facts,  or just fabricating ‘news’ which does not exist in established, bona fide fact-based reality.

The documented factual record reports the park has not only continually lost money every year since the 1992 season, but the park’s own financial figures filed with the bankruptcy court report the current park management has, and continues to,  incur  record-setting levels of net-profit revenue losses.


While reports are ‘revenues are up’, the factual documented record while, indeed, shows GROSS revenues have increased slightly over the previous year, the park’s NET PROFIT figure are ignored as if they do not exist.

And while GROSS revenue increases are ballyhooed in media and park ‘reporting’, the ‘reported’ GROSS losses are never contrasted and compared to, and are a small fraction of, the GROSS revenues the park is officially on record stating to the court and creditors that the park would be generating under the park’s approved bankruptcy plan.

Additionally, even with the much ballyhooed lakefront surplus lot sales to raise critically needed revenues, the park was unable to pay the park’s back property tax debt as it agreed to, and per court filings the park  has not paid off its back property to the tax bodies as it agreed to pay,  nor, per court filings, has the park paid its current sewer taxes/fees, since April or 2016.

The park is not only NOT exiting bankruptcy, it is currently documented failing to make the bankruptcy debt payments it agreed to pay, and is delinquent on current taxes.

Readers so interested can pursue this site to review the documented record of fact in their evaluating the reliability of the local media and park reporting.

 
 
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The Wraith

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Re: * CLP REPORT *
« Reply #11224 on: March 11, 2018, 11:15:54 AM »
Since information on our beloved topic has slowed to a trickle, here is something completely off topic for the consideration of readers. It is merely provided for your amusement or interest in the general topic.

Article is courtesy of the Record Courier Newspaper - Portage County, Ohio and appears in the March 11, 2018 edition.



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“Is there any point in public debate in a society where hardly anyone has been taught how to think, while millions have been taught what to think?” ― Peter Hitchens

gore range

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Re: * CLP REPORT *
« Reply #11225 on: March 11, 2018, 09:01:01 PM »
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gore range

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Re: * CLP REPORT *
« Reply #11226 on: March 12, 2018, 09:57:25 AM »
For the newer readers, on a parallel note, over recent years there have been several online fund raising efforts put forth by different entities endeavoring to raise capital for Conneaut Lake Park.

Those efforts failed to generate cash for the park and were terminated by the originators of the attempted fund raisers.   
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gore range

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Re: * CLP REPORT *
« Reply #11227 on: March 14, 2018, 08:20:07 AM »
....read 2 million times.....

....read 1 million times in 5.5 years....

....reached 2 million 18 months later....

....averages out to being clicked on and read over 700 times a day....




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NightmarePatrol

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Re: * CLP REPORT *
« Reply #11228 on: March 14, 2018, 05:08:49 PM »
This thread gets hit more than any other one here.
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gore range

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Re: * CLP REPORT *
« Reply #11229 on: March 14, 2018, 06:20:24 PM »
....more, in fact,  than the next nine combined-



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gore range

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Re: * CLP REPORT *
« Reply #11230 on: March 15, 2018, 03:19:36 PM »
I was recently going thru my digital archives while composing a 2017 end-of-year summary addendum for the HISTORY thread over on the Junction.

In the course of reviewing the local media’s 2017 ‘reporting’ on park matters, I noticed a.... ‘reporting’ discrepancy..... which previously slipped under my radar when the ‘report’ first appeared.

To no surprise, it is yet another example of the documented usual caliber of local media continued ‘reporting’ on CLP matters.

From the original ‘news report”


....the park’s own self-reported monthly financial numbers-


Posted below is the graphic presentation comparing the notable discrepancy in the park’s respective income
To maintain the ‘apples-to-apples’ contrast and comparison, the two graphs below depict park gross revenue figures thru August of each respective year, and do not include or reflect comparing figures thru August of one year with figures thru December of another year.

....the ‘seasonal’  revenue figures (thru Aug ’15, thru Aug ’16, and thru Aug ’17) as ‘reported in the local media to the local property tax paying voters:



....the ‘seasonal’  revenue figures (thru Aug ’15, thru Aug ’16, and thru Aug ’17) as documented in the park’s detailed financial statements reported to the court and creditors:


[/]
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gore range

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Re: * CLP REPORT *
« Reply #11231 on: March 19, 2018, 01:06:31 PM »
Thanx to those messaging and inquiring if the posting above could possibly be attributed to a simple lack of editorial managerial oversight. I apologize for appearing as if I was ignoring and not replying to the  messages.

On the one hand, I have no knowledge of editorial decisions made in local press news rooms.

On the other hand, for the many new readers, and particularly the local county readers new to the thread, and who may be
solely relying on the local press ‘reporting’ for information regarding CLP matters, as factually documented throughout this thread, I do cite repeated  instances of  the local press’ ‘reporting’ on CLP matters where the ‘reporting’ of the ‘news’ is documented presenting a one-sided, partial ‘reporting’ of only selected CLP financial numbers.

New readers so interested in reviewing those instances can peruse back thru this thread to contrast & compare local press ‘reporting’ with the official documented facts, and if so inclined, evaluate the limited-coverage quality of local ‘reporting’ regarding CLP’s on going financial circumstances.

In reviewing the history of local press ‘reporting’ on CLP’s financial situations, it will likely become  obvious that the local press only addresses CLP GROSS revenue numbers. While the standard yard stick of a business’ financial success or failure- 
NET PROFITs, -



....and where NET PROFITS or profitability are rarely even alluded to, and never addressed in detail-



In my MSWORD archive file of all web-published CLP articles for the years 2014 thru 2017,-



.... I have 187 pages of reporting, at 8 point font, containing over a quarter million words and 6,300 paragraphs of every press news ‘report’ on CLP for the four year period.

Since filing for bankruptcy, The term “gross revenue” appears in the ‘reporting’ 29 times.

The term “net profit”, and/or “profit income”, and/or "profit revenue" appear zero times.

The term “profit” and/or “profitability” appears twice.

One of those appearances is posted above, from last September. The second is posted just a bit further down

Such is contrasted to the local press’ reporting on the financial status of the Crawford County  Fair, (the)”... Crawford County Fair made a net profit of nearly $10,000 a day, according to a report presented by Fair Board Treasurer Diana Perry at the board's annual financial meeting at Venango Valley Inn.
[/]”, with detailed reporting on which fair operations are the profit generators, and which operations lose money.

On a pertinent side note, in contrast, per the CLP’s own figures officially reported to the court, thru 2017, it appears the park is averaging loosing over $8,600 every day it has been scheduled to be open, a financial reality not even remotely addressed by the local press.

The second mention of “profit” in the local press is likely a revealing side note for newer readers. It occurred in September, 2016, following the bankruptcy court’s approval of the park’s bankruptcy plan. A portion of the ‘reporting’ is posted below-
 
 

Of note,the “making a profit” statement made in court is not reflected in any official documentation detailing CLP financial matters....anywhere. Significantly, the statement as ‘reported’ in the local press is directly contrary to CLP’s own official monthly [/]
STATEMENT OF OPERATIONS (SOP) financial reports.  SOP reports are required by the court, to be submitted monthly by the park to the court, for park creditor’s’ examination in order to evaluate the park’s developing financial situation. The final of page of each of the park’s mandated monthly SOP financial reports include the signed statement attesting to the reliability and validity of the report:



While the local press ‘reports’ the court was informed that the park “is making a profit during its 2016 season[color]”, the local press did not report park’s own official records clearly show that not only was there no net profit in existence at the time, but rather-

....the park self-reports and is officially documented, incurring continued serious net profit
LOSSES
for January of 2016 thru August of 2016- just prior to the bankruptcy approval hearing.

Below is the park’s monthly STATEMENT OF OPERATIONS for January of 2016. The bottom line of the SOP financial report (ergo, the common saying- ‘the bottom line...”) clearly indicates that thru January of 2016, the park officially self-reports to the court and park creditors that the park incurred a total of $766,100.11 in net profit
LOSSES since filling for bankruptcy (NET PROFIT is the earned income remaining AFTER accounting for operating expenses and bills).



Below is the park’s monthly STATEMENT OF OPERATIONS for August,  2016. The bottom line of the financial report clearly shows that thru August of 2016, the park officially self-reports to the court and park creditors that the park incurred a total of $1,187,398.85 in net profit LOSSES since filling for bankruptcy-



....simple elementary school subtraction clearly and undeniably factually documents a January thru August 2016 LOSS of $421,298.74, or-

....OVER A HALF MILLION DOLLARS MORE in net profit
LOSSES than the court was told the park was earning in alleged net profits for the 2016 season.

The local press ‘reported’ the completely unsupported statement made in court, printing such as if it were in fact the documented truth.

As the ‘news reports’ appear in the local press for the upcoming 2018 ‘reporting” on the park’s financial ‘progress’, readers are free to accept the local press’ ‘reporting’ on its face value, or, perhaps, consider evaluating what is being “reported’ with an open-minded, factually critical eye.
[/color]
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gore range

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Re: * CLP REPORT *
« Reply #11232 on: March 19, 2018, 01:13:32 PM »
On a related side note, the current paid CLP management is on public record stating they intend to request  a million dollar  grant from the state (state = tax-payer funded) to develop the proposed Performing Arts Center in the park (slated to begin in 2018). Grants, of course, are not loans, but rather simply put-  ‘gifts’, and are not paid back to the state.

On a secondary related note for new readers, the local press has yet to report to local property tax payers and voters that per court filings, Allan Shaddinger, attorney for the Conneaut Lake Joint Municipal Authority (the lake area sewer system agency), informed the court the park has not paid its sewer bill to the Conneaut Lake Joint Municipal authority since February of 2016. And  Lawrence Bolla, attorney for the unofficial (ad hoc) committee of real estate tax creditors (the tax bodies) informed the court the park still owes the taxing districts approximately $76,000.00 on the park's back property debt.
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gore range

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Re: * CLP REPORT *
« Reply #11233 on: March 20, 2018, 12:20:09 AM »
The most recent metrics update:


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gore range

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Re: * CLP REPORT *
« Reply #11234 on: March 20, 2018, 12:20:36 AM »
Contrasting and comparing a decade-plus of annual gross income vs. net profit losses:


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