AVON PARK — The Housing Authority of Avon Park's plans to acquire Ridgedale Apartments have stalled after the complex's owners balked at the possibility of paying a penalty for dissolving its contract with another management company, authority Executive Director Larry Shoeman said. According to Shoeman, Columbus, Ohio-based Ridgedale LLC needed to make the housing authority the property manager during the rehabilitation work that will be needed for the 36-unit project. To do that, however, Ridgedale needed to ditch its current management company, according to their contract. "The management is not willing to terminate the agreement without a penalty," Shoeman told the Housing Authority of Avon Park's Board of Commissioners Wednesday evening. "We're at an impasse at this point." ...more

June 22, 2008