Jared Skvirsky-The Columbus Center Dabacle [mortgagehelps.blogspot.com]
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 In collaboration with the California Public Employees' Retirement System (Calpers) and MacFarlane Partners, Cassin/Winn Development received approval in January 2003 from the City of Boston for an air rights project over the Massachusetts Turnpike. The development, named Columbus Center, was to be a six building, 980,000 square foot complex of condominiums, hotels, stores, and parks. It had an estimated cost of $ 400 million and was supposed to be completed by late 2006 or early 2007 (Boston Business Journal, February 14, 2003). What was so unique about this plan was that it was the first major construction over the Massachusetts Turnpike and would set a precedent for future air rights projects. It was also supposed to link the Back Bay and South End neighborhoods by bordering Clarendon Street, Columbus Avenue, and Berkeley Street.
After issues regarding funding, and with costs skyrocketing close to $ 800 million, construction began in October of 2007. Columbus Center was to receive $ 27 million in grants and tax write-offs, $ 48.1 million in loans that were below the market-rate, and the administration of Governor Deval Patrick was to provide an additional $ 40 million in subsidies (The Boston Globe, October 5, 2007). This money from the state was to be in the form of a "contingency loan," which set up a provision that the developers would have to repay the state before it could profit from its initial investment of $ 40 million.
Even though construction had commenced, in late 2007, Cassin/Winn Development lost the funding of the Anglo Irish Bank, its most important form of private financing for the project. Consequently, the Patrick administration withdrew close to $ 40 million in public funds (The Boston Globe, February 10, 2010). With the loss of funding, combined with soaring costs, construction ultimately was halted. To make matters worse, on September 15, 2008, Lehman Brothers filed for the largest bankruptcy protection in United States history. This catastrophe, in collaboration with the subprime mortgage crisis, played a significant role in one of the largest economic recessions in decades. These factors made credit and access to loans nearly impossible to obtain. Both state and municipal governments were negatively impacted, and Cassin/Winn Development had no chance of receiving any assistance from the state. Even though the developers were still committed to the massive pro ject, the probability of securing the necessary funds to re-start construction on Columbus Center was quite slim. However, to ensure that the City of Boston did not take over the land where the project was located, minimal upkeep occurred (Boston Real Estate Observer, May 25, 2008).
Many neighbors and city officials were upset, as the stalled project greatly inhibited the appearance of the area, with jersey barriers and construction fences. Their concerns were heightened in the summer of 2009, after the developers were granted an eighteen-month construction break to figure out if financing was going to be feasible. In response to requests from area residents, the city, and the state, the developers came out on the defensive, and claimed that they had spent over $ 400,00 on "temporary restoration efforts" (The Boston Globe, August 1, 2009). However, the status of the project was still up in the air, as the developers continued to struggle to secure the required financing.
In February 2010, the Massachusetts State Department of Transportation issued a notice of default to the developers of Columbus Center saying they had violated their ninety-nine year lease. This notice of default gave Cassin/Winn a thirty-day period to come up with a plan to proceed with construction. If their strategy did not meet the standards of state officials, the lease would end. The reason this lease termination was proposed by the Department of Transportation was because they felt that the developers had not adequately cleaned up or maintained the site (The Boston Globe, February 10, 2010). However, the developers had actually begun to clean up the site in the fall of 2010, but then stopped, without any explanation. Aaron Michelwitz, a State Representative whose district covers the Columbus Center site stated his opinion on the issue, "We stopped getting cooperation from the developers and there was only so much the transportation department could do. W e need to go back to square one and see what other opportunities might be out there for this property" (The Boston Globe, February 10, 2010).
Not only was the project site unkempt, "the developers were in violation of 11 provisions of the lease, including failing to make minimum investments in the projects, secure all necessary permits, proceed with construction, and reimburse the state for costs" (The Boston Globe, February 11, 2010). Even though the amount of money Cassin/Winn had failed to pay the state for various costs had not been determined, some lawmakers felt the only way to recoup these funds would be through a lawsuit. Complicating matters was the fact that lawyers for the Massachusetts Turnpike Authority had failed to secure the collateral to be used if the developers did not pay their bills.
One month after the state told developers that they were in default of their lease, Cassin/Winn Development, in collaboration with the California State Pension Fund (Calpers), announced that they were terminating the project. There was some controversy, as the Massachusetts Department of Transportation felt it was the responsibility of the developers to pay between $ 4 million and $ 5 million to clean up the entire site.
However, Cassin/Winn Development and the California State Pension Fund made it clear that they had only $ 1.5 million to $ 2 million remaining in assets, and could not afford the $ 4 million to $ 5 million that the state was requesting. According to their attorney, Adam Hundley, "The development's partnership has proposed to pay all of their remaining net assets to the state, which is all the state could recover even if it were to prevail in litigation" (The Boston Globe, March 17, 2010). The amount the developers will actually end up payin g for restoration of the site has not yet been determined.Even though the future of the site is uncertain, residents and city officials are satisfied that the massive plan has been dismissed. The constant headache over whether the project would secure the applicable financing is over. Now state officials can plan for the future, and to determine the use of the site in a manner that is beneficial to all parties. Columbus Center architect M. David Lee believes that the best use of the land would be for a hospital or a university. Others, such as head of real estate for the Massachusetts Transportation Department, Peter O'Connor, want the state to divide the site into four parcels, with a separate development on each (The Boston Globe, March 14, 2010). Whatever the future of the site, people will be much satisfied than having to deal with thirteen years of uncertainty.
Find More Jared Skvirsky-The Columbus Center Dabacle IssuesQuestion by : Is it normal for the attorney of a debt collector to threaten to place a warrant out for my arrest ? I have been getting harrassing phone calls from a debt collecting agency and their investigaters. They say i have an outstanding balance with chase bank in the amount of 700 dollars for an uncleared check from a payday loan from 5 years ago. They say they have taken this matter to court and I keep refusing their service letters. This guy is now calling my family members and telling them that if I don't pay them 1100 dollars,then they are issuing a warrant out for my arrest and I need to contact him asap to take care of this uncleared check from 5 years ago or he is isssuing a warrant and i am facing 1 year or more in prison and a large fine. I am in the process of filing for chapter 7 bankruptcy and have retained a lawyer. Is this something that a chapter 7 bankruptcy lawyer can stop. He claims he represents the state. I live in columbus ohio and based on his phone number his office is in dallas texas. The last time i got a call like this, the person was calling from a florida number. i have put these numbers in the computer and they are coming back unknown. Is this something my bankruptsy lawyer can stop? Best answer for Is it normal for the attorney of a debt collector to threaten to place a warrant out for my arrest ?:
Answer by Dwasifar K
Yes, your attorney should be able to put a stop to this. The behavior you describe is in violation of the Fair Debt Collection Practices Act. The threats are bogus; you are not in any danger of arrest or imprisonment. If you tell the collector not to contact you any more, they are legally obliged to stop calling. If they persist, you can report them and collect up to $ 1000 per violation. If you have a bankruptcy in process, you should refer any collection caller to your attorney, tell them not to contact you directly again, and hang up.
Answer by willypeet
No lawyer can @ most it will be a civil matter. So tell the to F Off. Tell them not to call again and by law they can not.
Answer by S
don't worry you don't go to jail for debts. Yes refer them to your lawyer
Answer by regerugged
Tell the debt collectors you have an attorney and are filing for bankruptcy. Let you attorney know everything. If these people persist, you may have grounds to sue them. There is a four year statute of limitations on contracts. they may not be able, legally, to pursue their claim. You cannot be arrested or jailed. It is all a bluff to scare you or someone in your family to pay up. If you need further legal assistance, try www.handleonthelaw.com. Bill Handel loves to sue debt collectors.
Answer by jimbo
In some states it is against the law to issue a check for which you have no funds, they consider it quite a serious charge, so yes they can file with the sheriffs department for an arrest warrant.bankruptcy may not absolve you. Lets get a couple of thing straight. If you issued a check knowing that you did not have the funds to cover the amount, that my friend in any ones book is fraud and you can be arrested and sent to jail. Make no mistake about that. If you have committed an offense by issuing a fraudulent check, going bankrupt is not going to get you out of it.
Answer by Zach
you actually might be able to make some money from these clowns threatening you like this because it is illegal for them to do anything like this. What you should do is record the conversations so that you have proof and then I beleive there is a complaint section in the Federal Trade Commission website. you should also file a complaint with the Better Business Bureau as well as call the police so that there is a police report on this illegal behaviour. Make sure you aks the name of collection company and the name of the bozo and make sure you take some good notes if youre not recording the conversatio n and then when time comes you can go to court and sue them and hit them where it hurts, their bank account. Got get em!
