Kennedy's $3.5m loan funds a classy golf course.A land parcel of more than 360 acres in Wells, Maine Wells is a town in York County, Maine, United States. The population was 9,400 at the 2000 census. Wells Beach is a popular summer destination. History The Abenaki Indians called the area Webhannet, meaning "at the clear stream," a reference to the Webhanet River. is about to get a new life, with the help of a bridge loan in the amount of $3.468 million from Kennedy Funding, a direct private lender based in Hackensack, N.J. Located just a few miles away from Kennebunkport, where the first President Bush has a beach house, the land is now slated for extensive, high-end development. The Burnt Mill Country Club and Golf Course and Burnt Mill Estates residential community have all the necessary approvals in place, but construction has been stalled by the inability to secure funds through traditional sources. The banks were reluctant to lend without further progress and investor funding was necessary to continue the project. Kennedy Funding's loan commitment of nearly $3.5 million will allow the borrower to complete the infrastructure and build out the golf course, club house and residences as planned. The Burnt Mill Country Club will feature an 18hole, 7,200-yard championship course, only the second such course created by the design team of PGA Tour The PGA Tour is an organization that operates the USA's main professional golf tours. It is headquartered in Ponte Vedra Beach, Florida, USA. Its name is officially rendered in all caps as “PGA TOUR". Player Brad Faxon Bradford John Faxon, Jr. (born August 1 1961) is an American golfer. Faxon was born in Oceanport, New Jersey. He attended Furman University and turned professional in 1983. He has won eight times on the PGA Tour and played on two Ryder Cup teams. and golf architect Brad Booth Bradley (Brad) "Yukon Brad" Booth (born September 20th, 1976 in Vancouver, British Columbia, Canada) is a Canadian professional poker player known for his appearances on the GSN series High Stakes Poker. . It will also sport a nine-hole par three short course, a practice range and a 12,000 s/f clubhouse. Residential condominiums will flank the course in neighborhoods that constitute the Burnt Mill Estates, comprising a total of 85 units. These homes will range from single-family lots to duplex lots and townhouses. Considering that the terrain is typically rural, full of dense woods, rolling hills Rolling hills are like a mountain chain, only a "hill chain" of hills that roll on and on continually. You will often find them in between plains and mountains, near major rivers, or randomly anywhere. The only places without rolling hills are deserts and flood plains. , rock and meadows, the scenic quality of the land should accentuate ac·cen·tu·ate tr.v. ac·cen·tu·at·ed, ac·cen·tu·at·ing, ac·cen·tu·ates 1. To stress or emphasize; intensify: its natural beauty, appealing to golfer and non-golfer alike. The former President Bush has already expressed interest in membership at the country club. Richard and Melodee James are the owners of Burnt Mill Development, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , which is being built on land that has been in the James family for more than 100 years. Kennedy Funding entered the picture on the advice of George Marderosian, Burnt Mills' financial advisor, who is helping guide the project to fruition. |
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion