December 26, 2024 4:02 am
Facebook Twitter Youtube Instagram Linkedin
Rose Law Group

Bell Bank Park tapping reserves to avoid default

By Scott Shumaker | Queen Creek Tribune

Bell Bank Park operator Legacy Cares received authorization last week to dip into its last $22 million in cash as it scrambles to find a way out of default on a $280 million loan and maintain operations during talks with prospective lenders who might take over its debt and give the park more time to become profitable.

The 320-acre family sports and entertainment complex in southeast Mesa has struggled to generate sufficient revenue to cover loan repayments since opening in February, despite claims by Legacy that the complex has brought in nearly a million visitors and over 3 million visits so far.

The $22 million in question is in an account set aside and authorized currently only for loan payments.

READ ON:

Share this!

Additional Articles
News Categories

Get Involved

Stay Informed

Get Our Twice Weekly Newsletter!

* indicates required

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.

learn more

Recent Articles

Post Calendar

December 2022
M T W T F S S
 1234
567891011
12131415161718
19202122232425
262728293031  
Rose-Law-Group-RCF-Logo-FINAL-LG-png.png
Facebook Twitter Youtube Instagram Linkedin
© 2024 Rose Law Group Reporter

Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.