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| Market Frankford EL June 6 |
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| 5:30 This Morning June 7 |
I check out the Vineland Daily Journal and I read that Steve Durst, formally of Union Lake Crossing, wants to buy out the NJ Motorsports Park. This is an interesting development and it seems to be opposed by the current group that filed for Bankruptcy. As the article states;
Durst and Gallagher said if they succeed in taking over the park the group would invest $10 million to $15 million immediately in the facility on a range of capital improvements. The idea is to take the facility's "clubhouse theme" and develop the park as a "total family involvement" recreation spot.
• The group would build a 50,000- to 55,000-square-foot facility for The Racers Group at a cost of about $5.5 million. TRG recently left rented space at the park, criticizing current owners.
• An all-terrain vehicle course and a motocross facility would be developed "on a site not objectionable to area residents," Durst said.
• A "family recreational campground" would be developed.
• Amenities for members and competitors, such as showers, would be added. More vegetation and paving to hold down dust are proposed.
• The group would fully compensate the park's long list of unsecured creditors, largely small area businesses, to the sum of about $2 million.
It appears on the face of it a good deal for the park. The Current owner Lee Brahin does not think this proposal makes sense legally and he notes there will be an auction where the stating bid will be 23 million. This auction will take place sometime next month. I am glad there is interest in the park. I am not sure Mr Durst is the person. I seem to recall, he was going to invest in the old Millville Gardens site in the 3rd Ward. He then pulled out of the project for reasons unknown to me. I am not sure if he will do the same on this project especially when he states the bidding starts 10 million too high. Of course I am not an expert but anyone who bothers to read this can educate me on this matter. I am all ears!
What can I say about Anthony Weiner that has not already been said I think the New York Daily news was funny on this. They have Congressman Weiner and others before him on a 28 page photo gallery. Its pretty funny!
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| Bus Stop June 6 |
I am planning to leave early from work to help around the house a bit. I will first be going to a house to feed a cat then off to work.
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