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Potential Naples Buyer Heading Before Supes


Thursday, June 27, 2013
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All parties involved in the tentative sale of Naples will be at the Santa Barbara County supervisors’ meeting on 7/2. Though signs indicate the matter won’t be addressed until after the board comes back from its summer break on 8/20, next week’s meeting marks the first public appearance of the Gaviota property’s prospective new owner and would-be developer, Phil Ram (a.k.a. Dilip Ram). Ram, who is believed to be in escrow to purchase Naples from First Bank for just shy of $50 million with much of his financial backing coming from the investment hedge fund Cerberus, might be familiar to folks around Santa Barbara for his role in the Mesa condo development project known as the Estates at Vista del Oceano. The supervisors have to decide if Ram (who has racked up more than a baker’s dozen of bankruptcies over the years) and company have the financial wherewithal and reputation to deliver the various conditions of approval associated with the Naples project.

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Hmmmm, more than a bakers dozen of bankruptcies? This sounds to me to be Miramar/La Entrada 2.0.

bimboteskie (anonymous profile)
June 27, 2013 at 10:29 a.m. (Suggest removal)

dude has more bankruptcies than all the airlines have cumulatively but he can convince a hedge fund he should be their point man?

give me strength. i guess one upside to them buying Naples would be the anticipated litigation from future non-payment would tie up any talk of development for at least the couple of decades.

lawdy (anonymous profile)
June 27, 2013 at 11:21 a.m. (Suggest removal)

The Bill Levy defense

easternpacific (anonymous profile)
June 28, 2013 at 1:06 p.m. (Suggest removal)

People concerned about the fate of Naples should attend the Board hearing on 7/2 by around 9:30 AM for Item #4. Ask the Board to immediately deny the request for transfer of the development agreement based on the developer’s failure to provide any information on his financial capacity or reputation. See letter # 5 at http://santabarbara.legistar.com/Legi... for more information and details. The fight to Save Naples is far from over!

Marc_Chytilo (Marc Chytilo)
June 30, 2013 at 10:31 a.m. (Suggest removal)

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