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William Peace University Response to Public Hearing and Seaboard Station

By William Peace University on April 16, 2013 11:00 am

There has been news this week in regards to the refinancing of William Peace University bonds from 2004 and the Seaboard Station bankruptcy. Unfortunately, there has been some confusion that has combined these two separate topics, and we wanted to clarify.

In regards to the possible purchase of Seaboard:
The Seaboard Station property is in bankruptcy and we understand that there are several parties interested in it, including William Peace University. At this time, any questions related to the purchase on the property would be best directed to Seaboard’s broker at Capital Associates.

In regards to the public hearing today:
It has come to our attention that some social media postings have caused some confusion about the subject matter of the public hearing scheduled for tomorrow. The public hearing scheduled several weeks ago relates to the refinance of  Peace’s 2004 bonds and to some limited campus projects in the area  bounded on the North by Delway Street, the South by East Peace Street, the West by Halifax Street and the East by N. Blount Street.  The bonds and the projects do not relate to the Seaboard Station property which is the subject of these social media postings.

We understand that the Seaboard Station property is in bankruptcy and, although this property is near WPU, the public hearing has nothing to do with Seaboard.  It is our hope that the public hearing will focus solely on the relevant issue, i.e. the  bonds and the current campus projects as set forth above.

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