Azarian Wrecking files amended Complaint alleging “Fraud” Against Defendant City of Racine and Defendant Redevelopment Authority of The City of Racine.
- “FDP took 10% holdbacks from the Plaintiffs Sam Azarian d/b/a Sam Azarian & Sons Marina, Inc. and Azar, LLC, falsely told these property sellers it was for “environmental remediation,” but the truth was that it was actually used to create the escrow account for FDP to pay one percent interest to the CITY for the $4.5 million loan to FDP”.
36. In his December 30, 2014 email to Attorney Jud Wyant and Rodney Blackwell, Attorney Richard Donner stated that they need to speak to the CITY’S attorney Elaine
Sutton Ekes and the CITY to see if the CITY approves it:
…We will need to speak to Elaine to see if the City is comfortable with
lowering the purchase price to $1.35M but keeping the loan amount at $1.5M to fund the reserve.