(For more retail coverage, click GlobeSt.com/RETAIL and toread more on the debt and equity markets, click here.)
SCRANTON, PA-In a bizarre finale to a deal that has been in theworks since 2004, a just-completed Lackawanna County-commissionedappraisal of the 400-acre Montage Mountain Ski Resort shows theScranton property valued at $4.3 million or $10,750 per acre (25cents per sf). The county sold the financially ailing property inJuly to Philadelphia-based Sno Mountain LLC for $5.1 million or$12,750 per acre (29 cents per sf).
A lawsuit filed by dissident commissioner Mike Washo, scheduledfor Aug. 30, could delay the deal's closing, city hall sources in aposition to know tell GlobeSt.com. Neither Washo nor commissionerRobert C. Cordaro, who orchestrated the deal, could be reached byGlobeSt.com's publication deadline.
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