While putting the property back on the market after Buckingham Companies pulled out of a purchase agreement at the end of April, Rolland said he was gratified by the interest. “It’s going to take a little while, but there’s valid interest, so I’m hopeful we’ll get this done,” Rolland said in a phone interview.
Rolland met Friday, May 22, with members of the Oakwood Property Owners Association and progress is being made on the 2004 covenants. He explained the covenants have to be adjusted to accommodate the new situation at Oakwood with a potential new owner.
He said he is also making progress on coming to a compromise with the Wawasee Area Conservancy Foundation regarding piers at the Oakwood Inn. “We’ve made excellent progress,” he said, noting the agreement still has to be approved by the board. “We’ll be able to tell the buyer if they follow these guidelines in relation to the piers, they’ll have no problem from WACF,” Rolland said. He believed the agreement will be satisfactory to any potential buyer.
The idea of auctioning off the property is currently off the table. Rolland and his advisory team will entertain proposals from interested buyers. There will be specific issues that will have to be addressed in the proposals by interested buyers.
For more in-depth coverage on this story, see this week’s edition of The Mail-Journal.