Some one wanted to know why I ran for town council back in 15………….perhaps what’s happening will explain better than I can. The Mayton Inn during its construction phase. Now, Academy Park Hospitality, LLC has invested $8.1 million to obtain the Mayton Inn property, less than a quarter-mile away from the Academy Park Project. As the Cary Town Council acknowledged in their December 13, 2018 meeting, bankruptcy cases are unlike general litigation. At the time of filing their bankruptcy case, Memento Mori had indicated to the Town its intention to liquidate some of its assets (primarily, the King’s Daughters Inn), reorganize its debts, and continue operating the Mayton Inn. I love this place but it has so much unused potential. It would be a disgraceful waste of our taxes if Cary threw good money after bad by buying this losing proposition.
I can't find any other article that mentions who the interested party is.
No doubt cheaper and easier to maintain on their part. more. In early July 2018, just months before their bankruptcy filing for the Mayton Inn, the Crossmans were reported to have purchased another property for $4.8 million. Those private business owners who have struggled to be profitable, not to mention the town’s other taxpayers, should not now be forced to further subsidize this boutique money pit. Products: 5/8" QuietRock ES, QuietSeal Pro, QuietPutty. Compare pay for popular roles and read about the team’s work-life balance. According to Livermon, the Chapter 11 plan laid out how Memento Mori will repay the CDBG loan but “the plan does not propose to make any payments on the purchase money loan for the land,” which amounted to $951,000, loaned by the Town of Cary directly. While the town intertwining itself in the affairs and fortunes of private businesses is obviously a legitimate complaint depending on one’s political philosophy and/or proximity to the fruits of the town’s largesse, I can say pretty definitively that the sale process that is being proposed in the bankruptcy case is both a common one and one that will receive an immense amount of court and administrative oversight to insure that any sale that occurs is one that will maximize the proceeds for everyone involved. By Lauren Ohnesorge – Senior Staff Writer, Triangle Business Journal I bet it’s primarily a timing thing. The owners discovered QuietRock sound reducing drywall to be a cost-effective solution with performance that exceeded expectations. This problem project was called out 5 years ago in the General Assembly. There really is a place in Cary, North Carolina. The Mayton’s owners were given, and have squandered, benefits that no other private business in downtown Cary has received. The Crossmans chose QuietRock ES for their noise reduction solution. Claim your listing for free to respond to reviews, update your profile and much more. Own or manage this property? All rights reserved. Food at the restaurant was quite good. The Mayton Inn and the Crossmans are local gems.
The food was amazingly great. A place where you might say, “it’s so good to be back,” even if it’s your first visit.
The Town of Cary did not waste their money on this project. There are more places to choose from in the Cary area. Wishing them well. Maybe those who love the Mayton can put together an investment group to achieve that.
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“We decided on QuietRock since it gave us a great STC rating at a reasonable cost.”. Buy local! Wedding Reception in The Page Room at The Mayton Inn Venue in Cary, NC Following a beautiful wedding ceremony at St. Mary Magdalene Catholic Church, Marina and Dustin invited their wedding guests to a reception at The Mayton Inn… However, Livermon also assured that if the Mayton Inn sold before October 2020, then “the Town’s loans would be repaid from the sale proceeds of the Mayton Inn.”. On Saturday, May 23rd, and Sunday, May 24th, 2020, from 11 a.m. to 3 p.m., they’ll be grilling food outside. Regarding Memento Mori’s Chapter 11 Plan, Livermon said it “proposes to pay to the Town the regular monthly payments on the CDBG loan during the months of May- Oct 2019 and April- Oct 2020 or until a sale is completed, whichever occurs first. Hotels near First Baptist Church - Cary NC, Hotels near ESCENTUELLE Signature Fragrance Creation, Hotels near Shepherds Theological Seminary, Hotels near ITT Technical Institute - Cary Campus, Hotels near Wake Technical Community College. On September 20, 2018, Memento Mori filed their bankruptcy case and the Town, being a secured creditor in the project, hired local bankruptcy attorney Charles Livermon. I hope Cary Citizen will follow this story concerning the repayment of the loans and make it clear whether the sale proceeds will repay one or both loans or neither. They were thoughtful, considerate and more importantly caring.