Saturday, January 20, 2007

SOLD!


The Boston Herald has a brief report on Weaver's Cover LLC,
Weaver’s Cove LLC yesterday officially purchased the land in Fall River where it hopes to build a new LNG facility strongly opposed by local leaders. Weaver’s Cove, which exercised its option to buy from a firm controlled by contractor Jay Cashman, said its takeover of the property reflects its confidence an LNG facility will eventually be built.
I'm not sure what this means, if anything. While the folks at Weaver's Cove may believe this implies "its confidence an LNG facility will eventually be built", it seems to me just as likely to be a contractual obligation.

***UPDATE***
City Councillor Brad Kilby "
believes the deed transfer gives the city new legal arguments based on health and safety issues" according to this morning's Herald News. The Herald also reports the sale price as 16.8 million dollars and points out that Jay Cashman is making 14.2 million dollar provit on his 2.6 million dollar investment.

1 comment:

Anonymous said...

good job by the herald news....not good news for city opponents