Judge gives developer more time to deal with bankrupt S. Tahoe project
By Kathryn Reed
The bankruptcy judge in the failed South Lake Tahoe convention center debacle has given would-be developer Randy Lane another month to come up with a plan.
Lane, who with partner John Serpa, was to develop the 11-acre site near Stateline under their business name Lake Tahoe Development Company, still wants to be a player in all of this. Rebar and a concrete foundation are as far as they got before funding ran out.
Still no movement on the South Tahoe hole near Stateline. Photo/LTN
This week, Lane, using the company name Tahoe Property Consultants, told the court he wants 270 days to market, sell or otherwise dispose of the property as a single development project.
This is no different than what Lane has been trying to do since October 2009 when the project first entered bankruptcy.
Lane was not available for comment.
The judge gave him until Oct. 4 to come up with an amended plan. Those holding title to some of the parcels will then have a chance to weigh-in on whatever Lane proposes.
WHY do they keep letting Lane dink around with this project? He blew it big time, with OTHER PEOPLE’S money and he’s still slithering around the outskirts like the snake that he is. For What possible reason could a judge be allowing this? What does he have on this town? He owns SO many other properties here, what’s the status on them? Is he making THOSE payments? This guy is as shady as can be and allowing him to continue to operate here is shameful.
Crazy they gave him more time. He asks for 270 days and they give him 30…what possibly can be done in 30 days that hasn’t been done in 2 years?
We are being held captive by a man with dreams. Nice to have dreams, but come on….we need the hole project completed!
Why didn’t the article give information about the court and the name of the judge?
We need to hold the court system accountable when they aren’t serving the public or in this case to those who hold title to the property.
This court should bar Randy Lane from all involvement if bankruptcy has been declared, which I believe it has.
I thought Lane was completely out of this thing and the property had gone back to the 20 something individual owners. What does Lane have on this Judge, let alone the city. Run this guy out of town and give the project to Vail, the only company that seems to have money.
U.S. Bankruptcy Judge Thomas Holman in Sacramento. All creditors have not foreclosed, which means Lane still owns some of the parcels at the site.
Kathryn Reed, LTN publisher
It is unfortunate that the naive, unsophisticated city council members, and city staff, who were duped into this fiasco are not being held personally accountable for their poor decisions that have now resulted in financial damage and real blight to the citizens of this community.
Kae, Thanks for expanding the details. Seems a shame the city is being held hostage since all creditors haven’t foreclosed. The fact that it wasn’t consolidated into one APN on which money was borrowed is part of the problem.
If anyone cares to check back several years you can find a comment by me that said “big trouuble” when it was announced Randy Lane was in charge
Steve,Take a hard look at Hal Cole, the machines choice !!!
Hal and Tom, the good OL’Boys……AGAIN!
Has the City expressed an opinion to the Court about Lane’s continued involvement in the project?
It seems amazing that all the creditors have not foreclosed. What are they waiting for? Seems these creditors are slowing down any chance of a project getting started. Is the city a creditor of any of the properties?
Come on people.
The collapse of this deal was the City getting involved in the first place.
The Crony ways of SLT, El Dorado County and California is the root of the probl and ignorant masses, thanks to a horrid education system of socialism indoctrination and a liberal news media.
Anything to do with business in liberal states like California for the past many years involves the SLEAZE factor.
So much wrong in CA – in my view foundations of fraud and Corrupt
at the core.
You are where you are because you follow who you follow.
So many in N Californian are DUMB as toast.