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* CLP REPORT *
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Author Topic: * CLP REPORT *  (Read 1948274 times)

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gore range

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Re: * CLP REPORT *
« Reply #11160 on: December 31, 2017, 12:37:38 PM »
....it can't possibly get any sillier :D ....
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Re: * CLP REPORT *
« Reply #11161 on: December 31, 2017, 02:07:01 PM »
You're welcome..... Happy New Year!

Much different picture painted of the situation when all the hi-jinks and ineptitude on both sides is documented. I would have liked to have seen the Judge issue ramifications to both sides for disrespecting the judicial process, but the TCLP got what they deserved - but definitely not what they paid for. The only real issue for PR LLC is that the trustees are asking for a dismissal of the case -without prejudice - which means that in theory it could be refiled at a later date. With this performance...... don't think they have anything to worry about.

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Re: * CLP REPORT *
« Reply #11162 on: December 31, 2017, 03:17:46 PM »
The trustees are running out of property to sell to pay their bills and apparently they are not actually paying all their bills despite what Turner previously said multiple times.    If the lawyers are not getting paid it sure will be tough to continue the lawsuits.  Where will that next debt payment come from......  or are they already behind on that as well.

You're welcome..... Happy New Year!

Much different picture painted of the situation when all the hi-jinks and ineptitude on both sides is documented. I would have liked to have seen the Judge issue ramifications to both sides for disrespecting the judicial process, but the TCLP got what they deserved - but definitely not what they paid for. The only real issue for PR LLC is that the trustees are asking for a dismissal of the case -without prejudice - which means that in theory it could be refiled at a later date. With this performance...... don't think they have anything to worry about.


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gore range

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Re: * CLP REPORT *
« Reply #11163 on: January 01, 2018, 01:03:20 AM »
....for what its worth-

....the Meadville Tribune's #2 'news' story of the year-

….Conneaut Lake Park pays off tax  debt....

http://www.meadvilletribune.com/news/top-stories-of-the-year-nos---revealed/article_7d7919ce-ecaf-11e7-a8a4-cb3f383a8038.html

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gore range

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Re: * CLP REPORT *
« Reply #11164 on: January 01, 2018, 08:36:28 AM »
Conneaut Lake Park pays off tax debt , by Keith Gushard, Meadville Tribune , December 31, 2017

This year was a major turning point in Conneaut Lake Park's history as it was able to pay off the more than $1 million in delinquent tax debt that dated back 20 years.

Using a combination of the sale of excess lakefront property and proceeds from a fire insurance claim, the park was able to repay the money by the end of the summer- more than 2 ½ years after filing for federal bankruptcy to reorganize its debts.   

In early September, Trustees of Conneaut Lake Park, the nonprofit corporation that oversees the amusement park's operations, paid the balance of its $1,016,028.66 in outstanding real estate taxes, interest and penalties. The money owed to Conneaut School District, Crawford County and Sadsbury and Summit townships dated back to 1997.
   
Trustees of Conneaut Lake Park also paid out $214,867.55 in legal fees to the school district, county, and the two townships as part of the amusement park's filing for Chapter 11 Bankruptcy protection in 2014.  As of December it still owes $55,768 in remaining legal fee reimbursement to the taxing bodies, according to Christina Krzysiak, Crawford County Treasurer..
   
“This year's been very positive and its always going to be a struggle while we have debt obligations, but it's great to have the taxes behind us.” Mark Turner then  executive director of Trustees of Conneaut Lake Park, said in September after the taxes were paid.
   
Three years ago, in December 2014, Trustees of Conneaut Lake Park filed for Chapter 11 protection with U.S. Bankruptcy Court for Western Pennsylvania to avoid a sheriff's sale of the park's assets to settle its tax debt with the school district, county and two townships. Those four taxing bodies jointly went to the county Court of Common Pleas in September 2014 and filed for a sheriff's sale to force payment.
   
Under federal bankruptcy law, the bankruptcy filing automatically  stopped the amusement park's  creditors from continuing any action against the Trustees. While Conneaut Lake Park still remains under bankruptcy court protection from creditors, it is subject to oversight  of the bankruptcy judge.
   
Bankruptcy court ordered mediation between Trustees of Conneaut Lake Park and its real estate tax creditors in 2016. Mediation was successful and Trustees submitted a Chapter 11 plan which was given bankruptcy court approval in 2016.
   
Under the plan, Trustees has sold lakefront property not considered core to the amusement park's operations a to pay down its tax debts.
   
Trustees have been selling off former Flynn Property, located north of Conneaut Lake Park's midway/former Beach Club night club site.
   
The Flynn property, vacant with about 330 feet of lakefront, is considered unnecessary to the park's long-term operations. The site was subdivided into six lots- five approximately one-third of an acre each at the lake front and a 1.6 acre lot located behind the lakefront parcels. Four of the five lakefront lots have obtained buyers as has the 1.6 acre lot behind the lakefront parcels.
   
The sale of excess lakefront property generated $537,767.94 in revenue towards paying down the delinquent real estate taxes, interest and penalties. Trustees were able to pay off the balance  with the fire insurance proceeds of $478,200,75 from the 2013 fire that destroyed the Beach Club.
   
The fire insurance proceeds were subject to a fight in U.S. District Court for Western Pennsylvania between the Trustees and the former operator of the Beach Club with the Trustees eventually being awarded the money. Those funds were held in the county Treasurer's office until appeal deadlines passed.
   
Fire insurance proceeds check for the balance  Conneaut Lake Park owed to the school district, county and two townships were sent out Sept. 8to each of those entities, according to Krzysiak.
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gore range

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Re: * CLP REPORT *
« Reply #11165 on: January 06, 2018, 09:51:58 AM »
For the newer readers, particularly the casual, occasional readers who may not be aware of the actual documented facts of record, and are relying on the local media ‘news reporting’ as their source for information on CLP matters, the local media inaccurate ‘reporting has been thoroughly documented herein. Such is the continued case with the most recent article regarding the park’s back taxes. Appropriate sections of the article are posted below in black italicized, bold font, compared with the comments containing the correct facts of record posted in normal non-italicized font.

This year was a major turning point in Conneaut Lake Park's history as it was able to pay off the more than $1 million in delinquent tax debt that dated back 20 years.

Using a combination of the sale of excess lakefront property and proceeds from a fire insurance claim, the park was able to repay the money by the end of the summer- more than 2 ½ years after filing for federal bankruptcy to reorganize its debts.
   

Contrary to the paper's continued misleading and fabricated 'news reporting', the park was unable and failed to pay its back taxes as it agreed to and stated it would in its approved bankruptcy plan.

Per the park’s bankruptcy plan, the park stated to the court and creditors it would pay off its $1.3 million back property tax debt by April of 2017, and it would raise the money to pay its back tax debt by selling 'surplus' park property.

Selling 'surplus' property to try and raise the revenue needed to pay the back taxes was/is the only option available to the park as per the park's own official financial statements filed with the court document the park was incapable of generating net profits in its day to day operations to be able to pay the back taxes.

The tax bodies are on record in their numerous court filings to the bankruptcy court stating that after their examination of the park’s financial statements submitted to the court by the park, and studying the park’s revenues figures in the park’s proposed bankruptcy plans to the back taxes, that the park would not be able to, and would likely never, generate the revenues needed to pay off their back taxes.

The park failed to pay off its back taxes by April 0f 2017 as it stated it would, struggling to generate enough revenue thru 'surplus land sales to pay only 41% of their back property tax debt.


In early September, Trustees of Conneaut Lake Park, the nonprofit corporation that oversees the amusement park's operations, paid the balance of its $1,016,028.66 in outstanding real estate taxes, interest and penalties. The money owed to Conneaut School District, Crawford County and Sadsbury and Summit townships dated back to 1997.
   
Trustees of Conneaut Lake Park also paid out $214,867.55 in legal fees to the school district, county, and the two townships as part of the amusement park's filing for Chapter 11 Bankruptcy protection in 2014.

 ...
As has been documented herein, the paper continues to misreport “Trustees were able to pay off the balance with the fire insurance proceeds of $478,200,75 from the 2013 fire that destroyed the Beach Club. The fire insurance proceeds were subject to a fight in U.S. District Court for Western Pennsylvania between the Trustees and the former operator of the Beach Club with the Trustees eventually being awarded the money.”

Factually, it was the tax bodies, and only the tax bodies, who filed a legal claim to a portion of the Beach Club insurance money, appropriately utilizing a state statute authorizing such an insurance payment for the park's unpaid back taxes.

The fight was not between the “Trustees and the former Beach Club operator” -Park Restoration, but rather between the tax bodies and Park Restoration, the holder of the insurance policy.

After a third appeal in the four year  Beach Club insurance legal case, the tax bodies were awarded the $478,000 of Park Restoration insurance payment. The county treasurer, who held the funds in escrow, then, mailed the check to the tax bodies for the park’s unpaid bank tax debt balance in September of 2017.


The fire insurance proceeds were subject to a fight in U.S. District Court for Western Pennsylvania between the Trustees and the former operator of the Beach Club with the Trustees eventually being awarded the money. Those funds were held in the county Treasurer's office until appeal deadlines passed.
   
Fire insurance proceeds check for the balance  Conneaut Lake Park owed to the school district, county and two townships were sent out Sept. to each of those entities, according to Krzysiak.


As has been documented herein, the paper continues to misreport “Trustees were able to pay off the balance with the fire insurance proceeds of $478,200,75 from the 2013 fire that destroyed the Beach Club. The fire insurance proceeds were subject to a fight in U.S. District Court for Western Pennsylvania between the Trustees and the former operator of the Beach Club with the Trustees eventually being awarded the money.”

Factually, it was the tax bodies, and only the tax bodies, who filed a legal claim to a portion of the Beach Club insurance money, appropriately utilizing a state statute authorizing such an insurance payment for the park's unpaid back taxes.

The fight was not between the “Trustees and the former Beach Club operator” -Park Restoration, but rather between the tax bodies and Park Restoration, the holder of the insurance policy.

After a third appeal in the four year  Beach Club insurance legal case, the tax bodies were awarded the $478,00 of the insurance payment, and they, and not the park,  then applied it to the park's over due and unpaid bank tax debt balance in September of 2017.

The paper has yet to give credit to the elected tax bodies that actually and literally saved the park's bacon in the park’s still till unpaid back property tax debt drama. If it weren’t for the actions of the tax bodies, performing their judiciary duties to protect the interests of the local tax payers, the tax creditors would have likely had to file or converting the park’s Chapter 11 bankruptcy to Chapter 7 and initiate insolvency repossession and liquidation procedures as occurred in the park’s 1990s bankruptcy case.

The park was not awarded, nor did the park ever have possession of any of the $478,000 of the Beach Club insurance money. The park did not pay any of the insurance money to the tax bodies. Contrary to the paper’s ‘news reporting’, the money was awarded solely to the tax bodies. Those funds were paid to the tax bodies by the county treasurer on the park’s unpaid property tax balance.

As correctly reported by the paper, the park has yet to completely reimburse the tax bodies and tax payers for the tax creditors’ legal efforts in their efforts to in saving the park. It may be a while for that legal reimbursement payment as according to recent court filings, and gone unreported by local media, Allan Shaddinger, attorney for the Conneaut Lake Joint Municipal Authority (the lake area sewer system agency), informed the court last month the park has not paid its sewer taxes to  the Conneaut Lake Joint Municipal authority since February of 2016

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lifefeedsonlife

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Re: * CLP REPORT *
« Reply #11166 on: January 07, 2018, 04:45:25 PM »
So, remember the big animatronic gorilla that used to stand on the roof of the Ultimate Trip? On the platform - the thing is about 15 feet tall. It's in my buddy's out building. His family bought it years ago and he ended up with it. It's . . . a collectible I suppose, cuz - who really has use for a 15 foot tall animatronic gorilla?
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bluebomber

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Re: * CLP REPORT *
« Reply #11167 on: January 07, 2018, 07:35:16 PM »
Did he name it Park Debt?
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lifefeedsonlife

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Re: * CLP REPORT *
« Reply #11168 on: January 08, 2018, 07:51:17 AM »
No, but he bought it a hat. It still works too! Head body and arms move and it makes gorilla-ish noises. Maybe it'll come in handy for him some day. 
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gore range

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Re: * CLP REPORT *
« Reply #11169 on: January 09, 2018, 10:14:52 AM »
... Head body and arms move and it makes gorilla-ish noises. ...

 

....sort of sounds similar to some one saying that the park is making a profit, that the park is exiting bankruptcy, and that the park will be generating almost a quarter of million dollars in increased revenues in 2017 with the addition of the new Go Kart attraction in the Convention Hall and the 50 new camp sites in Camperland for the 2017 summer season, and that the park is paying their taxes.
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gore range

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Re: * CLP REPORT *
« Reply #11170 on: January 09, 2018, 10:21:09 AM »
For the new readers, the Ultimate Trip was a ride in the upper midway, located adjacent to the current hot dog stand. The park gutted the former fun house previously built in the re-purposed 1908 bowling alley structure and installed their aging Scrambler ride in the emptied, dark building.

The lights would be turned off and the Scrambler ride would spin around in eternal circles, never going any where, with ear pounding rock music with and eye blinding flashing strobe lights endeavoring to create the impression riders were on a mind altering, mind blowing “trip”.




Due to decades of the complete lack of funds to accomplish any maintenance on the former bowling alley/fun house structure, the roof rotted, and eventually failed collapsing under its  under its own weight, with the century old structure lost. The known failing roof forced emptying the building and an attempt was made to shore up the roof trusses; however, the effort was all for naught.


« Last Edit: January 09, 2018, 06:39:27 PM by gore range »
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gore range

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Re: * CLP REPORT *
« Reply #11171 on: January 10, 2018, 12:43:17 AM »
Park-related article in Monday’s Tribune on the new EPPAC director:

http://www.meadvilletribune.com/news/improving-infrastructure-helping-businesses-important-to-new-economic-progress-alliance/article_578a8186-f285-11e7-aba8-c3b4c9c88899.html


For the vast overwhelming majority of interested readers who are likely unable to read or willing to purchase the article, the new EPACC director states the two things a community needs in order to grow are 1.) building infrastructure, things like utility lines and industrial sites which allow both businesses and communities to grow, and 2.) responding quickly when businesses ha needs for such things a new site ,or help with financing equipment.

The very last portion of the article briefly speaks to the EPACC’s involvement with CLP in the coming year-

...the alliance serves as the management company of the Trustees of Conneaut Lake Park with Becker serving as the executive director of the Trustees of Conneaut Lake Park, the nonprofit corporation that oversees  the amusement park’s operation.
Conneaut Lake Park has been under federal chapter 11 bankruptcy protection to reorganize its debts since December 2014 and in September of 2016 got its bankruptcy reorganization plan approved by u.s. bankruptcy court.
“We’re hoping to do more this year to generate income to pay off the (park’s) creditors sooner than later,” Becker said
.


It likely could be reassuring to some reading that  the EPPAC is hoping to do more this year to generate income to pay off CLP creditors sooner than later.

Particularly so as the park’s bankruptcy filing reported the park owed the Conneaut Lake Joint Municipal Authority, the lake area sewer system agency, over $640,000 in unpaid delinquent sewer taxes going back years. I’ve not seen any documentation that any payment has been made on those delinquent taxes.

Tho, the concerning side,  just last month, Allan Shaddinger, attorney for the Conneaut Lake Joint Municipal Authority officially filed a motion with the bankruptcy court containing notification to the court that  the park has not paid its sewer bill to the Conneaut Lake Joint Municipal authority since February of 2016. FYI for newer readers, one of the court requirements for Chapter 11 debtors is that the debtor is required to stay current on paying all bills incurred after filing for bankruptcy protection.

No mention of such in the local press’ CLP ‘reporting’ what so ever.
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Re: * CLP REPORT *
« Reply #11172 on: January 18, 2018, 01:49:33 PM »
And the circus continues.....

Story is courtesy of the Meadville Tribune:

Quote
Conneaut Lake Park's food concessions operator suing Trustees after contract terminated

By Keith Gushard Meadville Tribune 

Conneaut Lake Park
Meadville Tribune file photo

Conneaut Lake Park's food concessions operator is suing Trustees of Conneaut Lake Park for breach of contract and wants Crawford County Court of Common Pleas to intervene with an injunction to enforce the contract.

On Tuesday, Dennis Taxacher of Conneaut Lake filed suit in county court against Trustees claiming an attempt to terminate his five-year deal is a breach of contract and that he has not violated any terms of the pact. Trustees, the nonprofit corporation that oversees amusement park operations, signed a five-year contract with Taxacher last year to operate the concession stands for the 2017 through 2021 seasons.

The suit claims Taxacher is entitled to have the contract continue to its end since he "performed all duties according to the terms of the agreement."

Trustees also waived any right claim to breach of contract by Taxacher since he performed under terms of the agreement during the amusement park's 2017 season and Taxacher never received any complaints from Trustees on any required performance including his accounting of concession fees owed, insurance required or his conduct, according to the suit.

Under the five-agreement, Taxacher pays Trustees a percentage of gross revenue on all food and beverages sold with a guaranteed payment of $40,000 each year. The agreement calls for Taxacher to pay 12.5 percent of gross revenue the first two years, 13 percent the third and fourth years and 13.5 percent the fifth year.

Operating the concessions on its own during 2016, Trustees had made about $40,000 in 2016, according to Mark Turner, the then-executive director of Trustees.

The suit contends a Jan. 3 letter Taxacher received from Trustees' attorney John Swick claimed Taxacher was in breach of his contract "alleging several unsubstantiated violations of the agreement" and the agreement would be terminated within 10 days of the Jan. 3 date.

The termination clause of the agreement also gave Taxacher 10 days to remove all equipment Taxacher provided at the park or his equipment would be considered abandoned, the suit claims

Taxacher also is petitioning county court to issue a preliminary injunction to stop Trustees from taking control of any equipment, supplies or inventory Taxacher supplied; stop Trustees from entering into a food concessions contract with another vendor; and compel the five-year agreement between Taxacher and Trustees be enforced while the lawsuit is unresolved.

No date has been set by county court to hear argument on the preliminary injunction.

Matthew Jorden, Taxacher's attorney, declined to discuss what the alleged unsubstantiated violations of the agreement were when Jorden was contacted by the Tribune. Jorden said he wouldn't discuss evidence yet to be submitted at a court hearing.

Jorden confirmed he had been in talks Wednesday with Swick about Taxacher's concession equipment but didn't want to remove it since "we plan to pursue enforcement of the contract."

Swick told the Tribune that Trustees were not willing to concede there was an agreement with Taxacher.

"He was an at-will contractor," Swick said. "We don't want his equipment."

Both Bill Bragg, chairman of Trustees, and Jim Becker, executive director of Trustees, confirmed to the Tribune each was aware the suit.

"We're not interested in his equipment nor do we want it," Bragg said.

Becker declined any other comment, citing the pending litigation.

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jimmyt

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Re: * CLP REPORT *
« Reply #11173 on: January 18, 2018, 06:05:18 PM »
dont know what thats all about....I thought the "contract" was recorded somewhere in the court documents.....my only complaint was hit and miss hours....walked up more than once to get fries when the park was open, only to find the fry stand closed because of the crowd....at least one Saturday afternoon they were closed....
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Re: * CLP REPORT *
« Reply #11174 on: January 19, 2018, 08:59:53 AM »
JT,Experienced the same thing this past summer. Maybe that is a violation of the lease the trustees are hanging their hat on. I would think with a contract that it should be simple to point out a violation. More drama and lawyer fees.
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