Thursday, May 26, 2011

Dashing Pacific still interested in Marina District

The good news is that Dashing Pacific would still like to purchase the Marina District - and maybe more of the property than originally included in the offer. The bad news is that the deal still must go before city council and I don't think they've yet learned their lesson to not meddle in other people's affairs. Hopefully, they'll take a look at the offer and decide yes or no without placing in it a ton of conditions intended to reward their friends and special interests.

Press Release:

Letter to Mayor Bell indicates further interest in remaining acreage

(Hangzhou, China) The Chairman of Dashing Pacific Group on Thursday delivered a letter to Toledo Mayor Michael P. Bell reaffirming the group’s desire to purchase the Marina District under the terms of their existing offer and further indicated interest in purchasing the remaining acreage under a two year option.

Earlier this year Dashing Pacific made an offer to purchase 69 acres of Toledo’s Marina District for $3.8 million. There is currently legislation pending before Toledo City Council on which the Mayor will ask for a vote at Tuesday’s meeting.

The hand-delivered letter was a welcome close to the Mayor’s nine day trip to China during which time he met with Ms. Yuen, the Chairman of Dashing Pacific.

The Mayor will meet with media to respond to questions about the deal upon returning from China on Friday, May 27 at 1:30 p.m. in his office, pending the timely arrival of his flight.

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