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Developer Lundy is repaid

College foundation returns $1.3 million in Belmont deal

March 19, 2008|By Sandy Alexander , special to the Sun

He said there have been some "bumps in the road" as the college, citizens and county officials have debated how best to pay the mortgage on Belmont and run the facility, but he said, "I think we will look back in 10 years and say this is a wonderful thing for the students."

The county approved $2.2 million in the fiscal 2008 budget to help the foundation purchase Belmont and an additional $2.8 million for renovations on the center's outbuildings. The renovations are in their early stages. The college agreed to come up with $2.2 million more needed to pay off the debt using private donations.

The college is now seeking a buyer for the Dobbin property to raise part of that money.

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The county Department of Recreation and Parks offered to purchase the Dobbin property for $1.75 million, using money from Project Open Space as part of County Executive Ken Ulman's proposal to help the college and preserve the secluded parcel. But the college turned it down.

Said Bengfort: "We looked at that option, and we have decided to look at what other buyers are out there."

A caretaker's cottage has been renovated to add several more bedrooms to offset the five that will be lost when Dobbin house is sold.

Cathy Hudson is chairwoman of the Save Belmont coalition, which has spoken against many of the college's plans for the site and raised concerns about Lundy's involvement. She said her group has asked the county to make clear what can and cannot be built on the Dobbin site before it is purchased.

She also said that while the conclusion of the agreement with Lundy is a positive thing, she still questions whether the purchase and renovation of Belmont is the right fit for the educational foundation, which otherwise focuses on raising scholarship money for students.

"We're still going back to, are we fitting a round peg into a square hole," she said.

sandyjalex@aol.com

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