Conneaut Lake Park trustees ponder bankruptcy
By Valerie Myers, Erie Times-News, Pa. | |
McClatchy-Tribune Information Services |
Trustees meeting Tuesday at the
That sale could be scheduled as early as November. Local taxing bodies have not yet filed court papers necessary to proceed with the sale, Turner said Tuesday.
That gives
Trustees will have the latest information on park revenues and expenses through July at their
"It's doable," Turner said. "But the big assumption is that those with obligations to us pay them," he said.
In a bankruptcy, the park would be required to repay its tax debt within five years.
Selling parts of the park property would pay that bill, Turner said. The park would also take in about
The only other option to stop the sheriff's sale of the park so far hasn't panned out. Trustees wrote to ask state Attorney General
Kane has not responded, trustees said.
"I don't have real strong expectations of seeing the attorney general come in on a white horse," Turner said.
The park had been blighted, Turner said. "We need to make it safe and clean for the public coming to events there and enjoying the amusement park," he said in June.
Events at the park this fall will include the annual Pumpkin Fest.
Park trustees on Tuesday approved an agreement with the
Because of the looming sheriff's sale, it hadn't been clear that the festival would be held at the park this year.
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