Who Can You Trust?
Not A Developer
|Tonight, 12/10/07, Dr. Bob Overholt will try one more
time to shake Lenoir City down for a little cash, nine million dollars
to be exact. For some unknown reason, Dr. Bob and company feel that the
tax payers should pay them out of his troubles.
While all kinds of promises have been made by Overholt, seems Dr. Bob has kind of defaulted on his agreement with his business partners, Mimms Construction. According to the deed agreement, Article II, paragraph (A), Overholt must build his portion of the road from 321 to Old Hwy. 95. In fact, under the agreement, construction was required to have commenced by November 15, 2007. No roadway is under construction on the Overholt property.
Overholt has indicated a number of times that if the city didn't give him the money, the deal could be lost. That's not exactly how it is. Under the agreement, Overholt will build the road or his partner can build it, charge Overholt for the job with an additional 20% for good measure.
Hopefully, the City Council won't make
the same mistake again. If Overholt won't even keep up his end of the
road deal, what are the chances he's going to keep his word on anything