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To: crossroads

While I'm all in favor of preserving historic buildings, it appears to me that this one can't pay its way. The current owners borrowed to buy it, and now can't make the payments. What is the lender supposed to do, say, "OK. Never mind. We'll just forgive the loan..."?

It's not going to be torn down if it's sold, apparently. It will become something...maybe even something profitable that will allow it to continue to be open to the public, perhaps as a restaurant, a luxury hotel, or whatever.

If it's important enough to enough people, they'll raise the money they need. If it's not, then it will be foreclosed on and sold. I see no alternative to this.


3 posted on 02/03/2006 11:42:10 AM PST by MineralMan (godless atheist)
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To: MineralMan

I wonder who got the original $5.5 million in 2003.
Why can't 2000 people who contact 5 or more(100,000)
only come up with $17,000. If the locals don't want to contribute, what's it to the rest of us.
Neat building though.


6 posted on 02/03/2006 12:39:44 PM PST by Tspud1
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