Tuesday, October 30, 2007

Housing Project Deal Near Disneyland Takes A Twist

That proposed SunCal housing project near Disneyland that has cause so much controversy has now taken another expected turn.

SunCal says the Frank Family Partnership reneged on the $46-million deal to sell the land. SunCal is asking that the contract be enforced, along with $60 million in damages. The land is currently occupied by two mobile home parks.


But that's not so, according to the Frank Family Partnership.

But attorneys for the Frank Family Partnership said today that it was SunCal that walked out on the deal signed in April 2005.

"The Frank Family granted SunCal eight different extensions which postponed the close of escrow," said Ed Connor, attorney for the partnership. "The Frank Family bent over backward for two years. What is so surprising is that SunCal three weeks ago suddenly decided not to make the $500,000 deposit that could have resulted in another three-month extension. We were absolutely stunned."


This has gotten absolutely silly and stupid.

Zz.

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