John Smithers and neighbors near the former Hillside Health Center continue to monitor the bankruptcy court process that will determine whether and when the facility can be sold and re-developed.
This week John spoke with Attorney Rick Land of the receiver, Winograd, Shine & Zacks, P.C. and learned the following:
1) The Hillside Center has not been sold;More…
2) The unconditional offer (no use specified) from Davenport is the offer that is presently before the Court;
a) The original Davenport bid was for 3.2 million dollars, it was never acted upon because of the Suburban Mortgage issue;
3) Davenport and other bidders do not have to indicate their intended use, if zoning variances are required for their proposed business model then they are required to go before the Zoning Board for those variances, this would typically occur AFTER the sale (thus the “unconditional” bids);
a) Previously other Nursing Home operators were interested but one cannot speculate as to their current level of interest nor their desire to compete with the Davenport bid;
4) Instead of the Hearing scheduled for May 1st the Judge will hold a Conference with the Receiver (Winograd, Shine & Zacks, P.C.);
a) During which the Judge will hear the Receiver’s recommendation to solicit bids for the property;
b) Attorney Land suspects this will result in an auction type setting at a later date where all bidders will openly compete for acquisition of the property;
John will speak with Attorney Land on May 2nd to learn the outcomes of the Conference and provide an update.
