Garrett Co. Won’t Bail Out Whitewater Course
OAKLAND, Md. (AP) — The Garrett County Commissioners say they won’t bail out a manmade whitewater course near Deep Creek Lake.
The nonprofit Adventure Sports Center International asked the county last month to consider taking over the mountaintop complex, including payments on about $3 million in bank loans.
The commissioners said Tuesday they won’t consider a takeover that would include the debt obligations.
The center’s operators defaulted on the bank loans after the group that owns the nearby Wisp ski resort stopped paying them for marketing services. The Wisp owners filed for bankruptcy protection in October due to a slowdown in sales of vacation home sites.
The commissioners say declining property values are squeezing the county’s budget, too.
The adventure sports center is scheduled to play host to the 2014 International Whitewater Paddling Championships.
(Copyright 2012 by The Associated Press. All Rights Reserved.)