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The Trump Administration
by lifefeedsonlife
[Yesterday at 11:26:38 AM]
* CLP REPORT *
by The Wraith
[July 16, 2018, 01:41:06 PM]
Tell us how you hated 8 years of OBAMA and less than 2 years of TRUMP...
by bighair80s
[July 10, 2018, 11:45:57 AM]
No Topic. Anything Goes.
by gore range
[July 07, 2018, 06:26:30 AM]
....bang bang....
by gore range
[June 29, 2018, 07:40:20 AM]
More on climate change
by gore range
[June 27, 2018, 12:17:55 AM]

Author Topic: * CLP REPORT *  (Read 2276953 times)

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The Wraith

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Re: * CLP REPORT *
« Reply #11145 on: December 30, 2017, 11:05:21 AM »
I am afraid that your dissection of the article compared to what the court actually said in its order/opinion are not entirely in sync. You are correct in some of the facts presented, but you are mixing two subjects NOT discussed in the damage award phase of the breach of contract part.

The breach of contract case, which was the subject of most of the article, is a separate proceeding from the overall bankruptcy case. For those who may have questions about the proceedings, or the opinion, they should consult original documents and decide for themselves.....

Read the opinion for yourself. It makes for an interesting look inside the process and facts used to make that opinion. Why have someone else do for you, what you can do for yourself.

Link to the breach of contract opinion from Judge Deller:
https://www.leagle.com/decision/inbco20171218553
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gore range

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Re: * CLP REPORT *
« Reply #11146 on: December 31, 2017, 08:54:42 AM »
....fascinating and enlightening reading in the court's ruling-

iv. Credibility of TCLP's Appraisal

The appraisal of real property is an inexact science and perhaps nowhere is this more evident than in a case such as this where two expert appraisers utilize the same method of valuation and arrive at widely disparate values.
...
In this matter, TCLP bears the burden of proving damages. As such, the Court will first examine whether TCLP has presented credible evidence in support of its claim. Upon review of the evidence presented, the Court finds serious issues with the comparables selected by and relied upon by Glowacki in formulating his appraisal of the Property. Specifically, the lack of commonality between the "comparable" properties and the Property with respect to age of sale, location, and other physical attributes undermines Glowacki's opinion. Accordingly, the Court finds that TCLP's Appraisal and Glowacki's testimony lack credibility and the Court assigns no weight to such evidence.

Specifically, the age of the comparables selected by Glowacki for inclusion in his appraisal is troubling. Of the eight total comparable sales identified by Glowacki, five sales and a portion of a sixth (which was a compilation of sales between 2001 and 2008), were at least ten years old. Of the remaining sales, one was six years old and the other occurred four years after the effective date. To compensate for the age of the sales, Glowacki adjusted the sales price of each sale by one-percent per year.

Gillette disagreed with Glowacki's contention, credibly testifying that lakefront property appreciated at a significantly greater rate than non-lakefront property. Thus suggesting that Glowacki's use of the county-wide appreciation rate was errant. Moreover, Gillette indicated that the age of some of the sales, specifically Sales 1 and 2 (respectively referred to as "the Salvation Army Property" and "the Wald Coleman Funeral Home"), in itself warranted exclusion. The Court agrees with Gillette's criticisms and, despite Glowacki's attempts to offset the age of the comparables, finds that the age of the comparable sales weigh against a finding that TCLP's Appraisal is credible.

In addition to the age of the comparables, Gillette criticized Glowacki's selection of comparable property sales on the basis that none of the properties were located lakefront to Conneaut Lake; which again, Gillette indicated was the most improved market in the area. The Court finds merit with Gillette's criticism and what's more, is further concerned by Glowacki's failure to adjust the comparable sales prices upwards to compensate for their non-lakefront locations. …  In fact, to the contrary, Glowacki adjusted the sale price of two comparable properties, the Salvation Army Property and the Low-Rise Asst Living, downward by thirty percent to account for their "Superior/Corner" locations, ... thereby suggesting that their non-lakefront locations were more desirable. In his testimony, Glowacki conceded that he did not take into consideration the value of the lakefront location or view. He further opined, albeit unconvincingly, that the Beach Club, despite being physically located on Conneaut Lake's beach, did not actually have lake frontage due to the public's right to access the area of the beach between the former Beach Club structure and the water's edge. Of course, the documentary evidence proves otherwise. That is, the Beach Club property does have a water view and was near the water's edge. The Court is perplexed by Glowacki's logic as well as his failure to assign any value to the Property's proximity to and/or view of Conneaut Lake. Glowacki himself acknowledged in his appraisal that the area in which the Property is located is a "Resort Commercial District" and that, as of Crawford County's lakes generally, Conneaut Lake is a "revenue source for the growing summer tourism industry."

Further, that "[t]he Conneaut Lake area should continue to be an attraction for recreational purposes though the operation of Conneaut Lake Park on a long-term basis is questionable." …. As Conneaut Lake is a significant, if not the most significant, recreational attraction in the recreational area, it defies logic that the Property's close proximity to Conneaut Lake would not positively affect the value of the Property.

Even disregarding the non-lakefront location of all of Glowacki's comparable properties, Glowacki's selection of comparables is further called into question by his inclusion of properties which otherwise appear to share little to no commonalities with the Property. For example, despite the Property being located in Crawford County, Pennsylvania, two comparables, identified in TCLP's Appraisal as Sale 5 ("Dollar General I") and Sale 6 ("Dollar General II"), are located in Erie County, Pennsylvania; an entirely different market, which itself warrants exclusion of those sales as comparable. ... Regardless, no reconciliation was made for the different locations. A third property, identified in TCLP's Appraisal as Sale 4 ("Lumber Store II"), lacks any road frontage at all. Although Glowacki attempted to off-set the lack of road access to Lumber Store II by an increase in sales price of 100 percent, the properties are too different for Lumber Store II to be considered a usable comparable.

Due to these issues, the Court finds that TCLP's Appraisal is unpersuasive and unreliable. As stated above, TCLP bears the burden of proof in this breach of contract matter to establish damages by a preponderance of the evidence, to a reasonable degree of certainty. As this Court does not find convincing the only evidence TCLP presented to establish the post-fire fair market value of the Property, the Court could only speculate as to the existence of damages. Stated another way, TCLP has presented the Court with no credible evidence on which it could conclude without speculation that the post-fire fair market value of the Property is less than $622,000. Accordingly, TCLP has failed to sustain its burden.

Although this result may appear harsh under the circumstances—in that, it is apparent that TCLP was injured (but not necessarily damaged) by the loss of the Beach Club—such denial of relief in the absence of credible evidence of fair market value is not unprecedented.

It is significant that TCLP was afforded not one, but two opportunities to put forth credible evidence as to the fair market value of the Property. First, at the May 17, 2017 hearing, where TCLP was unprepared to present any evidence as to fair market value, and again at the July 24, 2017 hearing, where it presented evidence that this Court now finds lacks credibility.

Further, the Court takes note that according to TCLP's prior filings with the Court, TCLP projects an increase in revenue associated with the Property, despite the destruction of the Beach Club structure itself. According to Gillette's pre-fire income capitalization calculation, the stabilized income to TCLP under the Beach Club Management Agreement was $43,425 per year prior to real estate taxes. ... TCLP agrees with this figure. ... However, pursuant to the cash flow projections attached to TCLP's Disclosure Statement, TCLP projects income of $5,000 per month from the "Land Lease"—"Beach Club Pad Lease," for a total income associated with the Property of $50,000 in 2018, and $60,000 in each 2019 and 2020. ... Thus suggesting that the Property is, in fact, more valuable to TCLP post-fire as a vacant lot. TCLP's averments that the Property is worth only $35,000, despite projections of yearly income greater than that amount, beg the question of which is errant: TCLP's Appraisal or its cash flow projections.

Finally, the Court notes that its finding that TCLP failed to sustain its burden as to Count I does not foreclose TCLP from obtaining redress—TCLP has two remaining counts that it may pursue.


The park board has voted to stop its efforts to pursue Beach Club damages against Park Restoration.
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clp_lives

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Re: * CLP REPORT *
« Reply #11147 on: December 31, 2017, 11:33:30 AM »
Someone should clearly lose their license to appraise with this insult.


....fascinating and enlightening reading in the court's ruling-

iv. Credibility of TCLP's Appraisal

The appraisal of real property is an inexact science and perhaps nowhere is this more evident than in a case such as this where two expert appraisers utilize the same method of valuation and arrive at widely disparate values.
...
In this matter, TCLP bears the burden of proving damages. As such, the Court will first examine whether TCLP has presented credible evidence in support of its claim. Upon review of the evidence presented, the Court finds serious issues with the comparables selected by and relied upon by Glowacki in formulating his appraisal of the Property. Specifically, the lack of commonality between the "comparable" properties and the Property with respect to age of sale, location, and other physical attributes undermines Glowacki's opinion. Accordingly, the Court finds that TCLP's Appraisal and Glowacki's testimony lack credibility and the Court assigns no weight to such evidence.

Specifically, the age of the comparables selected by Glowacki for inclusion in his appraisal is troubling. Of the eight total comparable sales identified by Glowacki, five sales and a portion of a sixth (which was a compilation of sales between 2001 and 2008), were at least ten years old. Of the remaining sales, one was six years old and the other occurred four years after the effective date. To compensate for the age of the sales, Glowacki adjusted the sales price of each sale by one-percent per year.

Gillette disagreed with Glowacki's contention, credibly testifying that lakefront property appreciated at a significantly greater rate than non-lakefront property. Thus suggesting that Glowacki's use of the county-wide appreciation rate was errant. Moreover, Gillette indicated that the age of some of the sales, specifically Sales 1 and 2 (respectively referred to as "the Salvation Army Property" and "the Wald Coleman Funeral Home"), in itself warranted exclusion. The Court agrees with Gillette's criticisms and, despite Glowacki's attempts to offset the age of the comparables, finds that the age of the comparable sales weigh against a finding that TCLP's Appraisal is credible.

In addition to the age of the comparables, Gillette criticized Glowacki's selection of comparable property sales on the basis that none of the properties were located lakefront to Conneaut Lake; which again, Gillette indicated was the most improved market in the area. The Court finds merit with Gillette's criticism and what's more, is further concerned by Glowacki's failure to adjust the comparable sales prices upwards to compensate for their non-lakefront locations. …  In fact, to the contrary, Glowacki adjusted the sale price of two comparable properties, the Salvation Army Property and the Low-Rise Asst Living, downward by thirty percent to account for their "Superior/Corner" locations, ... thereby suggesting that their non-lakefront locations were more desirable. In his testimony, Glowacki conceded that he did not take into consideration the value of the lakefront location or view. He further opined, albeit unconvincingly, that the Beach Club, despite being physically located on Conneaut Lake's beach, did not actually have lake frontage due to the public's right to access the area of the beach between the former Beach Club structure and the water's edge. Of course, the documentary evidence proves otherwise. That is, the Beach Club property does have a water view and was near the water's edge. The Court is perplexed by Glowacki's logic as well as his failure to assign any value to the Property's proximity to and/or view of Conneaut Lake. Glowacki himself acknowledged in his appraisal that the area in which the Property is located is a "Resort Commercial District" and that, as of Crawford County's lakes generally, Conneaut Lake is a "revenue source for the growing summer tourism industry."

Further, that "[t]he Conneaut Lake area should continue to be an attraction for recreational purposes though the operation of Conneaut Lake Park on a long-term basis is questionable." …. As Conneaut Lake is a significant, if not the most significant, recreational attraction in the recreational area, it defies logic that the Property's close proximity to Conneaut Lake would not positively affect the value of the Property.

Even disregarding the non-lakefront location of all of Glowacki's comparable properties, Glowacki's selection of comparables is further called into question by his inclusion of properties which otherwise appear to share little to no commonalities with the Property. For example, despite the Property being located in Crawford County, Pennsylvania, two comparables, identified in TCLP's Appraisal as Sale 5 ("Dollar General I") and Sale 6 ("Dollar General II"), are located in Erie County, Pennsylvania; an entirely different market, which itself warrants exclusion of those sales as comparable. ... Regardless, no reconciliation was made for the different locations. A third property, identified in TCLP's Appraisal as Sale 4 ("Lumber Store II"), lacks any road frontage at all. Although Glowacki attempted to off-set the lack of road access to Lumber Store II by an increase in sales price of 100 percent, the properties are too different for Lumber Store II to be considered a usable comparable.

Due to these issues, the Court finds that TCLP's Appraisal is unpersuasive and unreliable. As stated above, TCLP bears the burden of proof in this breach of contract matter to establish damages by a preponderance of the evidence, to a reasonable degree of certainty. As this Court does not find convincing the only evidence TCLP presented to establish the post-fire fair market value of the Property, the Court could only speculate as to the existence of damages. Stated another way, TCLP has presented the Court with no credible evidence on which it could conclude without speculation that the post-fire fair market value of the Property is less than $622,000. Accordingly, TCLP has failed to sustain its burden.

Although this result may appear harsh under the circumstances—in that, it is apparent that TCLP was injured (but not necessarily damaged) by the loss of the Beach Club—such denial of relief in the absence of credible evidence of fair market value is not unprecedented.

It is significant that TCLP was afforded not one, but two opportunities to put forth credible evidence as to the fair market value of the Property. First, at the May 17, 2017 hearing, where TCLP was unprepared to present any evidence as to fair market value, and again at the July 24, 2017 hearing, where it presented evidence that this Court now finds lacks credibility.

Further, the Court takes note that according to TCLP's prior filings with the Court, TCLP projects an increase in revenue associated with the Property, despite the destruction of the Beach Club structure itself. According to Gillette's pre-fire income capitalization calculation, the stabilized income to TCLP under the Beach Club Management Agreement was $43,425 per year prior to real estate taxes. ... TCLP agrees with this figure. ... However, pursuant to the cash flow projections attached to TCLP's Disclosure Statement, TCLP projects income of $5,000 per month from the "Land Lease"—"Beach Club Pad Lease," for a total income associated with the Property of $50,000 in 2018, and $60,000 in each 2019 and 2020. ... Thus suggesting that the Property is, in fact, more valuable to TCLP post-fire as a vacant lot. TCLP's averments that the Property is worth only $35,000, despite projections of yearly income greater than that amount, beg the question of which is errant: TCLP's Appraisal or its cash flow projections.

Finally, the Court notes that its finding that TCLP failed to sustain its burden as to Count I does not foreclose TCLP from obtaining redress—TCLP has two remaining counts that it may pursue.


The park board has voted to stop its efforts to pursue Beach Club damages against Park Restoration.

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gore range

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Re: * CLP REPORT *
« Reply #11148 on: December 31, 2017, 12:37:38 PM »
....it can't possibly get any sillier :D ....
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The Wraith

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Re: * CLP REPORT *
« Reply #11149 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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clp_lives

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Re: * CLP REPORT *
« Reply #11150 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 #11151 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 #11152 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 #11153 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 #11154 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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Re: * CLP REPORT *
« Reply #11155 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 #11156 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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Re: * CLP REPORT *
« Reply #11157 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 #11158 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 #11159 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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