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Mill Site Granted

Back to Trustee

Title to the former Durango paper mill site in St. Marys, Georgia was transferred back to the court appointed Trustee today as part of a court approved settlement agreement between the Trustee (Bridge Associates, LLP) and the former owner (The Landmar Group, Inc.).   The transfer was in lieu of foreclosure after Landmar defaulted on a mortgage encumbering the property and subsequently filed bankruptcy.   The property was transferred from North River, LLC (a Landmar controlled entity) to Old Weed and Ready Plantation, LLC (a Bridge Associates controlled entity).   The transfer effectively resolves a legal entanglement that had placed the property in market limbo for over a year and the transaction brings this important parcel one step closer to redevelopment.  

According to Mike Newsom, project manager with Bridge Associates, LLC, the court appointed Trustee, "we can now proceed with full authority to market and sell the Durango mill site property.   There are many new opportunities that have come into being since the last time we sold this property, and we are looking forward to robust interest in this special plot of land.  I would like to add that we are very appreciative of the support and marketing help we have received from the Camden County Joint Development Authority (the "JDA") and from the City of St. Marys."

According to David Keating, Executive Director of the Camden County Joint Development Authority, "the resolution of this legal matter clears the way for the property to get back on the market and sparks hope within the community that redevelopment may occur at some point soon.  We sincerely appreciate the hard work and attention the Trustee has devoted to untangling the issues affecting the property so it can become productive once again."

Alyce Thornhill, Director of the City of St. Marys Downtown Development Authority stated, "getting the title settled is another necessary step to continue to move this project forward.   This investment opportunity has the potential to transform our city and create much needed jobs and new business."

At +/- 720 acres, the former Durango paper mill site is one of the largest, privately owned, deep water, rail served sites remaining in Coastal Georgia that is also served by public utilities; including water, sewer, electricity and natural gas. 

When the Farnborough International Airshow 2010 kicks off today, July 19, 2010 in Farnborough, England, local Research and Development company, Aerospace Missions Corporation (ASMC), will be among the more than 1,400 exhibitors expected to be part of this biannual international event.  Held at the FIVE (Farnborough International Venue and Events) 4,000 sq. meter permanent venue and 10,000 sq. meter site, the Farnborough International Airshow which this year runs from July 19 to 25, 2010 is recognized as one of the most iconic global aviation events.  The first five days of the event are generally considered “trade” days, with the final weekend open to the general public.  More than 150,000 weekend spectators are expected to close out the 2010 event.

“This event offers a unique opportunity to connect with other aerospace companies on an international level and therefore allows us to gain better insight into what’s happening in the aerospace industry not just at the national level, but globally,” stated ASMC President and CEO Rick Morgan.  “If we want to be competitive at the international level, it’s important for us to be there.  We look forward to an exciting week at the Show and to exploring new potential opportunities and partnerships once we’re there.”

Aerospace Missions Corporation will be attending the event as part of the Georgia Delegation at the Farnborough International Airshow, coordinated by the Georgia Department of Economic Development (GDEcD).  Georgia ranks as one of the top five U.S. states in aerospace exports to the United Kingdom.

Jim Lomis, Chairman of the St. Marys Downtown Development Authority, said “ASMC’s participation in the Farnborough International Airshow creates a unique opportunity to share St. Marys, Georgia with the rest of the world.  ASMC chose to locate in our great town and we hope that others will follow once they learn more about us.”

Aerospace Missions Corporation is a research and development company headquartered in El Paso, Texas and specializing in nanophotonics technologies and UAV payload technology.  The company’s areas of expertise include electro-optics R&D; laser communications systems engineering; sensor miniaturization and fusion; operational and developmental weapon system testing; and aerospace mission analysis and design. The company’s Advanced Technology Center is located in St. Marys, Georgia.  It also has offices in California, New Mexico, Florida and Massachusetts.

The public will soon have access to one of the prime pieces of real estate on the downtown St. Marys waterfront.

City officials were the high bidders on a 2.5-acre tract known as the Gilman Boat House at an auction recently.

For more information about the project that was presented at the June 14^th council meeting click here.

Annual Downtown Development Authority Update newsletter in a printable format.

Boaters in need of a ride…Visitors need a lift to dinner…This new service can help!  Coastal Regional Coaches will transport any where in Camden County for a round trip fee of $6 ($3 one way).  The coach is equipped to transport wheel chairs if needed.  Service is offered Mon-Fri 6-6 PM.  Call 866-543-6744.