Williamson “Left Holding the Bag”?

January 30, 2007 at 1:35pm By: Mr. Wilson Posted in The Lincolnite Blog

Jim Williamson says he was left holding the bag when the City couldn’t come up with $2 million to finish off a hoped-for property sale. It sounds like another story illustrating Lincoln’s ability to make life difficult for businesses. That’s how the commenters on the LJS website seem to interpret it. Williamson is even pondering a lawsuit.

I see it differently. The City fulfilled its obligations in regard to the property it did purchase from Williamson. Though the City indicated interest in purchasing additional property, no contracts were signed. When the necessary $2 million failed to materialize, nobody was any worse off than if the City had never expressed interest at all. So what’s the problem? With no contracts in hand, it sounds like Mr. Williamson’s complaining is baseless. If he wanted assurances, he should have gotten them in writing.

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foxspit January 30, 2007 at 3:44pm

I’m not sure anyone is at fault here.  This is the way things go sometimes.  It’s too bad the city couldn’t make good on its intent to exercise the option to buy.  But that’s why such options exist, in case the money can’t be raised.

If Williamson can afford to look at the Antelope Valley property as a long-term investment, they will have some prime real estate at some point in time.  That doesn’t pay the bills today though.

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