August Wilson Center creditor firm on end date of financial support
Dollar Bank objects to giving more money to the August Wilson Center for African American Culture after June 30, unless the bank gets assurance that the debt-ridden facility will be sold by Nov. 30, according to court documents filed on Monday.
The bank is paying the center's bills and expenses until then, under an agreement approved by an Allegheny County Common Pleas Court judge. The center's receiver, retired bankruptcy judge Judith K. Fitzgerald, wants the end date to be extended. She could not be reached for comment.
“There's no change in position,” said Eric Schaffer, attorney for Dollar Bank.
The bank said it paid the center nearly $167,000 as of April 10.
Also on Monday, the attorney general's office shed some light on why it opposes a proposed sale of the center to 980 Liberty Partners of New York for $9.5 million.
The office contends that restrictive covenants on the property limit its use to that of a center for black culture. It asked the court for time to ensure the center's mission is preserved.
Dollar Bank said it does not object to a sale to Liberty Partners. The developer would build a hotel atop the building and let the center keep its gallery, offices and storage space. The center could use the theater for up to 120 days or nights a year, for a nominal sum.
Dollar Bank sought to foreclose on the center last year when the facility failed to pay its mortgage and insurance. The center owes about $10 million to creditors, including nearly $7.7 million in mortgage payments.
Fitzgerald was appointed conservator — at first to save the center, and then as liquidator to sell its property when she could not find a group willing to help pay costs.
Bill Zlatos is a Trib Total Media staff writer. Reach him at 412-320-7828 or email@example.com.
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- Constables accused of unprofessional conduct held for court
- Penguins get physical, trade Goc for Blues’ Lapierre
- S. Carolina man wanted by Shaler police arrested
- Penn State president: Freeh acted like prosecutor in review
- UPMC, Highmark disagree over payment of medical claims for children
- NHL notebook: Bruins place veteran forward Gagne on waivers
- Stocks lose footing on Fed statement
- Continental targets early 2016 for North Shore apartments, parking garage
- Cuba lays out list of demands for improved relations
- Leader of Venezuelan congress denies bodyguard’s allegations
- Washington County man convicted of domestic assaults