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week of 4/24/02 | |
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| Court
gives Landmark more time to get cash By Scott McLeod A federal bankruptcy judge gave officials with Landmark Corp. 40 days to come up with $2.5 million to follow through on a bid to purchase the Dayco Building in west Waynesville. The decision was a setback for the Haywood Advancement Foun-dation, which had bid $1.3 million for the building and was backed up by two grants of $650,000 each from Haywood County and Waynesville. “Our attorneys are requesting an automatic acceptance of our bid if they fail to get the money,” said Jay Hinson, Haywood’s economic de-velopment director. Landmark is linked to several failed companies — Thermal Products, Grand Ridge and Enterprize Park — that have held the old industrial complex for five years. They have tried to develop it but have so far ended up in bankruptcy court. The 33-acre tract has more than half a million square feet of space under roof. While waiting, the Haywood group will conduct a Phase I environmental study to ensure that any environmental cleanup costs will fall on Mark IV, the parent company of Dayco. |
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