Thursday, October 13, 2011

CB has possible pier land buyer

From the Star-News ...

A developer is interested in purchasing two Carolina Beach hotel properties that were supposed to be used for a future state-operated aquarium pier and park, the town's attorney said at the Tuesday night council meeting.

But the developer did not present a written proposal, so the council will continue to move forward with its plans to find a new manager for the hotels, which are in poor shape and need renovations, and to discuss the project's chances with state officials.

Steve Coggins, the town's attorney, said he met with a hotel developer and was told that the purchase price "would certainly encompass that all debt on the property would be paid off."

Unless additional state grants or assistance come through to cover the cost of the properties, Carolina Beach taxpayers are on the hook for paying more than $4 million in debt on the land purchase.

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