Friday, October 07, 2011

Sheriff Sale of Stage Road LLC Properties Oct 18th


Can it be the
Sheriff Sale of Stage Road LLC Properties
is the flushing away of Chesapeake Bay Reserve and maybe any ideal of a casino?

On Tuesday October 18th the Sussex County Sheriff will auction off five parcels of land (Tax Parcel: 5-32-14.00-8.01; 5-32-14.00-8.02; 5-32-14.00-9.00; 5-32-14.00-9.02; 5-32-21.00-41.00) to satisfy a mortgage from WTC (I think that is Wilmington Trust Corporation) to Stage Road LLC for $2,796,708.49. Just think land in Delmar played a little part of the closing down of Wilmington Trust, a bank that had been around since 1903.

The main spokesperson for Stage Road LLC was Jamie Rostocki. His development, Chesapeake Bay Reserve, was to be 478 lots on 206 acres. Rostocki had volunteered to donate $180,000 to a regional park in Delmar Delaware. This was to be based on $376.57 being donated each time a building permit is issued. And then he was going to built a Casino. Now I will say this I think Jamie Rostocki was the better person to deal with - hard to say how who ever buys it will be. All those sweet deals promised people and organizations in Delmar may go away.

This property was a major part of Tidewater Utilities plan to service the east side of Delmar Delaware - no doubt they will be back again trying to make use of the Town's sewer system instead of building the one they said they would build.

Or it could all turn out to be roses, blue sky and blue water - lets hope it is.

There are large number of
sheriff sales that day
but there is a note "There will not be a Sheriff's Sale in December 2011, as a goodwill gesture during these difficult economic times"

No comments: