Block · one region of the page, as the scanner read it. It may hold a whole story, part of one, several, or an advertisement; stitching blocks into articles is the next step. Text is supplied OCR.
Page 6 · column 3 of 7 · from the scan, no model involved
Inn
From Page A1
Any downturn at The Inn could potentially affect the sewer project as the first of the assessment fee payments are due Oct 1.
Any downturn also could affect other businesses in the town, many of which rely on The Inn's visitors, especially bed and breakfasts, who frequently fill their beds with overflow from The Inn or from visitors who can’t afford The Inn's lodging rates.
Mayor Eugene Leggett acknowledged in an interview that tounsm-related revenue is down, but that the council stretched sewer project payments over six years for commercial establishments.
“Sometime during those six years,” said Leggett, “or well before that, the economywill recover.”
Mortgage note
In 2007, former business partner Reinhardt Lynch left The Inn, but not until after O’Connell took a $17.5 million loan to buy him out.
Without knowing the terms of the note, even a nointerest loan over 15 years amounts to $3,240 per day in payments In his staff meeting, O'Connell made mention of the note saying “our mortgage is $3,250 a day." There are days, he said, when The Inn doesn’t take in that much, according to knowledgeable
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