Investor Makes Case for Maranatha Change

Interest in the Town of Richmondville's special board meeting on Maranatha and the potential for a new investor to come in reached such levels yesterday afternoon that the Town Court exceeded its occupancy level of 46 people and proceedings were moved to the Fire Department less then a half mile down Main Street to accommodate the approximately 75 residents that were in attendance.

With substantial debts including electric and water bills, an unpaid consultant and a roughly $20,000 equipment audit facing whomever acquires Maranatha, potential investor Da-Lai Wu said that it was a "no brainer" that all outstanding bills would have to be paid in advance of his New York City investment firm's potential takeover.

Mr. Wu, who addressed the audience of residents and politicians, told the crowd that in the future he needs assurance that the Town of Richmondville wouldn't continue what he summarized as a business unfriendly attitude towards the project he is seeking to acquire. Saying that if he wanted to expand Maranatha to include a tennis court or other buildings under his potential ownership that he should be able to do so without hindrance.

However, with the original project dependent on millions in state grants, and the strings that are attached, nothing can occur unless all parties involved are on board for a waiver by Empire State Development, which will need the cooperation of the thus far skeptical Town of Richmondville to be considered.

Stella McKenna, who currently owns Maranatha and is operating out of her secondary location in Cobleskill for the time being, said that "this needs to happen now" and that we "can't wait another week." State Senator Jim Seward concurred, stating that "if nothing happens, it remains an empty building."