Title

"City" piece on a Bookland superstore, which was supposed to spur the revival of

Authors

Connie Pacillo

Source

Casco Bay Weekly

Date

6-24-1999

Pages

6

Abstract

"City" piece on a Bookland superstore, which was supposed to spur the revival of Portland's Marginal Way, but appears to be on hold indefinitely. Six months after five city councilors gave David Turitz, president of Bookland, a $651,000 tax break to build a cafe and bookstore in the abandoned Hot Shots building, ground has yet to be broken. Peter Quesada, whose company, Southern Maine Properties, owns the building, confirmed that financing for the deal has not been secured. According to the 1998 financial plan submitted to the city by Bookland, the projected cost of renovating the building would be $2,634,800 of which Quesada would pay $2,010,800 and Turitz would pay $624,000. The tax incentive was issued on Feb. 11, 1999, and Bookland has five years to find the needed financial backing.

Subjects

Bookland

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