The Pocasset Mobile Home Park receivers report to a Suffolk Superior Court judge about options to construct a waste-treatment plant for the complex at Barlows Landing Road were made public this week.

Hyannis attorney Charles Sabbatt advised the court and Bourne Health Department that it is economically unfeasible to fund new waste-plant construction totaling $3,631,533; with that estimate including a $674,036 sewer system, $67,487 to lower park water mains, $8363,650 for a new water system and $434,300 for roadway construction.

The known cash assets on hand are insufficient to fund the project, Sabbatt noted. The only way to finance the project would be to borrow from a conventional lender or to obtain some form of governmental grant funding, assuming that there are such programs available.

Sabbatt advised the court he remains unsuccessful in obtaining financial records from park owner Charles Austin or Austins financial adviser Thomas May.

Sabbatt told the Courier Wednesday night that an injunction has been filed against Austin, essentially to preclude the park owner transferring or selling his assets.

The issue here is the need for money and where to get it, he said. We have to move within a complex legal process. We have to move within a practical process. Mr. Austin has rights. Ive laid out a process to get the money we need.

Sabbatt said the judge involved is bright and committed to bringing a resolution to the broader issue of whether park residents ultimately will be able to reside there or whether the park must close.

The judge realizes this is a place where people live, Sabbatt said. The court recognizes that. We cant just say close the park and forget about it. If money becomes available, well try to resolve park issues and find a waste-treatment system.

Sabbatts feasibility report to the court is basically in three parts: an estimated cost to construct a treatment plant and income projections to fund that option, a possibility of tenants purchasing the park but the need to borrow money for that option, and a significant sale of Austins assets that might ultimately resolve park issues; if the judge agrees to that approach.

See original here:
Pocasset Mobile Home Park waste plant is ‘economically unfeasible’

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March 30, 2012 at 5:01 am by Mr HomeBuilder
Category: Sewer and Septic - Install