Hello everyone, a wee update from George and Teri at Timmins Web...
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I've forwarded the email to George and he has mentioned about getting a lawyer to set up an independant corporation. He's still playing around with ways to pull this off. The Maple Leaf Hotel will be it's own entity and not part of Timminsweb Inc. We had already decided that. We don't care if it makes a profit as long as it can hold it's own. It's a Timmins landmark and I would love to see it restored back to it's former glory.
As for the hotel. We walked through it today. Several of the water pipes burst when the heat was turned off last winter. It seems that the previous owner just locked the doors and walked away without turning off the water.
To make matters worse the building was hot water heated so several of the radiators are cracked open. On the second floor one of the ceilings is about to collapse from water damage in one of the rooms. The kitchen is so old the main stove must be at least 40 years old. It will have to be completely redone. We still have to hire a contractor to give us an estimate on repairs plus roof etc.
George figures it's going to cost us about 1/4 million dollars canadian for the purchase and renovations before we can open. That's an awful large sum of money but before we back down he's going to see what he can do.
In order to reopen the hotel we'd have to do several months of renovations including replacing the heating system, repairing the water pipes and replacing some of the electrical. I don't think anything has been done in there as far as upkeep for at least 20 yrs.
The current owner of the building is a bank in town here. It's strange they have a bunch of stipulations on purchase and even have a purchase agreement already written up which gives them the ability to cancel the deal right up until noon closing day even if the final waiver has been signed. It's the first time I've ever seen the seller come up with the contract.
Also we need to look into taxes etc. It seems we will be responsible for all leans and anything owing on the building including some of the debts of the previous business including city taxes. There has also been an environmental study done on the building which hopefully we will see tomorrow.
It was done a few months ago and in order to open we have to comply with it's findings so I am curious to see this report.
On the plus side most of the memorabilia is still there including the autographed picture of Shania. There were a few things missing mostly pertaining to Stompin Tom Connors another canadian country star who had his start at the Maple leaf Hotel. The place is full of old furniture etc. so restoring it to a previous era would be much easier than we had hoped in that regard. After seeing the rooms upstairs George had the wonderful idea of turning the upstairs into a bed and breakfast for people visiting Timmins. I can see it now "Spend your vacation at the Maple leaf
Hotel" *
h*
George is determined to check everything out before he makes his decision and I have given him the ok to use my house as collateral in this venture which I would not have done if I didn't think George's intentions were honourable. He really does want to see downtown Timmins prosper.
Things are slowed down by the fact that no bank in Ontario will lend money to a bar nowadays. That will pose a large problem but I know George, if he really wants it he'll figure something out. All the funding will have to come from private sources.
George has contacted a promoter from the Toronto area we both know and he's agreed to supply us with all the live country entertainment we need at a very reasonable cost so that's no problem and the previous staff have caught wind of all this and have already handed in their resume's to George.
Whew, I've probably left a lot out but that's the start of it anyways. At this point it seems like one hell of a mountain to climb (pardon my english) Well I guess I'll just sit back and enjoy the ride. No one ever said life with George would be boring.
Hope you are well Tom and I've got my fingers crossed that you find employment. umm..have you ever managed a bar?
Teri.
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Please read the next post for an update on this thread... and again lets formally start an appeal fund on this site!