For many months Axiom Entertainment has been trying to buy 1,700 acres of state forest to build Main Street America, a theme park the developers say would rival Cedar Point and bring millions of visitors and thousands of jobs to Crawford County in northern Michigan.
But the state Department of Natural Resources has said it will not sell the land before it receives documentation that the company has financing for the project. Axiom has missed several deadlines for providing this information, and its financial history contains some dark spots, including a failed theme park development in Indiana and bankruptcy.
Continued – Now there’s another layer of uncertainty to the project — the financing company that Axiom is working with on this project, Remington Financial Group Inc., appears to be under investigation by the FBI for collecting fees from prospective real estate borrowers and never actually looking for financing for them.
You can read more about this real estate loan broker probe here .
The Michigan Natural Resources Commission will hold a hearing on the Main Street America project during its meeting in Munising on Thursday.
Add New Comment
Viewing 4 Comments
Thanks. Your comment is awaiting approval by a moderator.
Do you already have an account? Log in and claim this comment.
Do you already have an account? Log in and claim this comment.
Do you already have an account? Log in and claim this comment.
Do you already have an account? Log in and claim this comment.
Do you already have an account? Log in and claim this comment.
Add New Comment
Trackbacks
(Trackback URL)