Yep, the Atwater deal had numerous issues mostly notably lack of any money. Tulare Motorsports Complex lately has experienced a tragic series of events, especially since they had acquired the funds to build out the project. Tulare is one of the counties in the United States with the highest unemployment rates as well as financially devasated from the economic downturn. This project would have created tens of thousands jobs, it's real heart wrenching to see the folks there suffer from lack of livelihood and opportunity.
I was surprised the judge threw the whole EIR out, and didn't just request individual corrections and changes. (Their may have been other reasons this was done
). The events surrounding the Motorsports complex have transitioned from simply building a race track to that of humanitarian need, very sad.
I would imagine there may be additional litigation that could follow, i.e.:
1. How are they going to justify the federal stimulus money they seemed to have acquired and are already using to do the road, sewer and infrastucture improvements for a project that may not exist anymore?
2. Will the developer go to
federal court to reopen escrow, since the money that was coming from overseas was delayed by the department of Homeland Security and escrow fell out because it didn't arrive in time? I guess someone or the developer could take the position, they were simply doing their patriotic duty in cooperation with homeland security in defense of the nation to ensure the funds were not being directed to an organization, individual or entity that may seek to harm our country. Thus, why should they be punished for simply doing their patriotic duty. Federal law takes precedence over state, Fed judge by decree/order opens escrow and since the money is now here sale is finalized?
I would hope all parties next week at the scheduled close door meeting would consider all the current and potential matters and simply move forward again, it could be cheaper that way.
