Good Afternoon to All, Just wanted to give an update as to the status of Eastern Hills Country Club (EHCC) and what is happening with the Bankruptcy Court. Just a little over two weeks ago the Court approved Commercial Broker reviewed 9 contracts that had been submitted and was going to submit the high bid of $3.8+ million to the Court for acceptance. At this point to the best information that I am getting this has not happened. From all indications the potential purchaser does not at this point have a specific use in mind. I have been told he is do his 45 day due diligence per his contract and with that he is getting a traffic study and doing an analysis as to a highest and best use for the property for redevelopment. With this being said and as I have told many of you individually or in mass emails through others there is no current residential zoning for this property, only park use for it being a golf course. Any type of rezoning has to go through the normal process of public hearing through our Plan Commission as well as the City Council. Again I have stated my position many times to the Bankruptcy Attorney and the Court appointed Real Estate Broker that I personally will not be satisfied unless any rezoning meets or exceeds the most immediate adjacent properties with a valuation of my on preference of $350k and above. I truly wish there was a way the City could mandate it remain a golf course but at this point it becomes a land use issue and will be left to basically just what a majority of the Council will allow on this property. I will continue to represent the equity owners and the neighborhoods wishes and if there is no way to keep it as a golf course then we will hold out for the best possible zoning we can get so we can protect all of the home owners value both now and well into the future. Respectfully, Stephen Stanley Councilman Dist 3
Posted on: Mon, 17 Mar 2014 20:32:48 +0000
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