|
|
|
For a complete calendar, click on the Community Calendar link in the left hand navigation bar
Tuesday January 6
Free Homebuyer Education Classes
Due to popular demand Mammoth Lakes Housing (MLH) will offer free Homebuyer Education classes for anyone interested in the process of purchasing a home. Entire purchase process, from shopping for a loan, to working with escrow officers, to understanding loan terms, and how your credit report impacts you in today’s market. 11:30 a.m. – 1 p.m. MLH office. Space is limited. Call (760) 934-4740 to register.
Eastern Sierra Photographers Club
Meeting at the DWP conference room in Bishop, at 7 p.m. Bring slides, prints or digital images to share. For more information, call (760) 937-7736.
|
|
|
|
|
|
Fourteen Village merchants served with eviction notices |
|
|
Thursday, 14 August 2008 |
Attorney Rick Wood plans a vigorous defense of his clients
By Catherine Billey
Mammoth Times Staff Writer
 MAMMOTH TIMES PHOTOS/ERICK SUGIMURA
This action was confirmed by attorney Rick Wood, who represents many of the merchants. For confidentiality reasons, Wood could not disclose the names of the merchants. “In the event that litigation is actually filed by either CNL or Intrawest,” Wood said, “those names will become public.”
Merchants at Lingerie Lounge, First Street Leather, Gallerie Barjur, and the Side Door confirmed that they were among the 14 served.
Wood said the notices were authored by counsel for the landlord, CNL Income Mammoth LP (CNL), by Intrawest U.S. Commercial Management Property Inc. (Intrawest). The primary owner of the Village is CNL, but Intrawest manages it.
“CNL bought an 80 percent interest in the Intrawest assets,” Wood clarified. “They continue a partnership consisting of CNL and Intrawest owning the asset.” Because CNL is a real estate investment trust and is a publicly held company, it can't manage its own assets, so in the instance of the Village, Intrawest is the property manager.
Byron Carlock, President and CEO of CNL, did not return calls for comment. In a statement issued under his name, he said although the company has tried to reach a “mutually beneficial solution for the leasing challenges at the Village,” none had occurred. “Accordingly, CNL Lifestyle Properties has followed the terms stated clearly in each tenant's lease. CNL Lifestyle Properties and Intrawest continue to review all reasonable offers from potential purchasers who have expressed an interest in the property, and remain in discussions with interested parties about other topics important to the health of the Village.”
Green “For Lease” signs are visible in the windows of stores that have closed in recent months, scattered among the businesses that remain open and are now threatened by eviction.
“I would not expect any of my clients to quit,” Wood said. “We will present a vigorous defense to any action that is taken by Intrawest to evict the tenants. We remain hopeful that we're going to be able to resolve it. But their actions as of a couple of days ago suggest that they want to create vacancies in the Village.”
Wood said he doesn't represent all of the merchants because some of them are renting or leasing directly from Intrawest, such as LuLu Restaurant and Bar, which has not been served. “I represent nearly all and likely in a few days will represent all 14. And I represent a couple who have not been served, as well.”
It's a game, one beleaguered merchant said off the record. But Wood doesn't think so. “We can only speculate as to what they are doing,” he clarified. “I've been attempting for seven months on behalf of 14 businesses to negotiate either a restructuring of existing leases or sustainable terms of new leases or purchases of the individual spaces by the existing tenants, and we have met with no success at all, notwithstanding significant good faith efforts on our part.”
CNL had been paying lip service and stonewalling by indicating that they were prepared to resolve differences, but at the end of the day, he said, the rents are simply too high for the merchants. “They are significantly higher than any other rent in town, and I've been here a long time,” Wood said. “My ear is as close to the ground as anyone in the community, so I feel very certain that the rents are significantly in excess to any rent in town.”
Wood added that CNL had presented an offer on July 21 with an expiration date of Aug. 15 to sell each merchant its space. But the eviction notices were served nine days before the offer expired. Meanwhile, because Wood had heard a rumor that CNL intended to serve notices on the merchants, he contacted a CNL attorney in Orlando, Fla. seeking confirmation of this.
“And this is a guy with whom I've been speaking for months, so at least there's some telephone rapport,” Wood said. “But he said 'no, I can't confirm that. That's a management issue.'” During that phone call, however, Wood said one of his clients in the Village faxed him the eviction notice she had just received.
If CNL intends to vacate the Village and bring in national chains, Wood says they're in for a surprise. “They're applying what experience they've had elsewhere in the country to a very unique market with dynamics that are different from other markets, principally because of our isolation. If somebody today can't make it on $5 (per square foot) rents, how is somebody else going to?”
|
|
Last Updated ( Thursday, 21 August 2008 )
|
|
|
|
