Sale date uncertain for Lakeview Homes
September 27th, 2007There is still no firm date when Gaylord Lakeview Homes (Lakeview Home, Oak Terrace, and Heritage House) will be sold.
Interim administrator Mary Nell Zellner told the nursing home board Monday night that there are a number of major items that need to be completed in order for a sale date to be determined.
First of all, the proposed buyers, Mick Montag and Dennis Hood, have to secure licensing. The pair just submitted application for a federal identification number, in order to receive reimbursements. Zellner said that according to her sources, it could take until late November before the paperwork is completed.
Montag and Hood had thought that they could use Lakeview Home’s numbers, however, that is not allowed, Zellner explained.
Secondly, Montag and Hood have yet to have their financing secured, according to Zellner. Montag and Hood are applying for a federal loan, which will be submitted for processing the end of this week. That could take up to 45 days, she said.
The third variable has to do with building and construction permits. Zellner said that after talking to the city’s building inspector, it could take Montag and Hood two to three weeks to receive the permits, once they provide all of the necessary information.
In order to prepare for the sale, Steve Rosholt, Gaylord’s bond attorney, and City Attorney Doug Nesvig will conduct a thorough legal review of the documentation, Zellner explained. A sale date will not be set until all of the necessary information is provided.
Lakeview Home’s Board of Directors and Council liaison Pat Pinske asked that Zellner make a presentation to the City Council next month to report about the delays in the sale process.




