OAKLAND — Garrett County commissioners announced that they met in executive session to discuss legal, financial and personnel implications of Adventure Sports Center International (ASCI) in regard to a default of $3 million in capital debt obligations.
During construction, ASCI incurred $3 million of loans from private lending institutions in order to address unanticipated costs.
During Tuesday’s commission meeting, Chairman James Raley read a public statement pertaining to ASCI, according to Monty Pagenhardt, county adminstration.
ASCI is a nonprofit entity and not under the authority of the board of county commissioners, according to Pagenhardt. The financial institutions involved with the debt collection are Susquehanna Bank and First United Bank & Trust.
An official and more detailed review will be made during the Feb. 7 public session, according to Pagenhardt.
“The board of county commissioners will be compiling their position and comments on this,” said Pagenhardt in an email to the Times-News. “I am going to coordinate something with ASCI board of directors.”
ASCI, located in McHenry, was incorporated in Maryland as a nonprofit in 1998.
ASCI manages the Fork Run Recreation Area, a 550-acre forest that hosts rock climbing, bouldering, mountain biking, hiking and geocaching, according to its website.
The first phase of construction for the man-made whitewater course, which consisted of a $3.4 million pump house and related machinery, was completed in 2005, according to a previous Times-News article.
The venture has received $4.1 million from the state, $2.9 million in federal funds, $1.3 million from Garrett County and $2 million from the sales of land donated by DC Development LLC, owner of the Wisp at Deep Creek Mountain Resort.
Attempts by the Times-News to contact Matthew Taylor, executive director of ASCI were unsuccessful.
Also during the meeting:
• Commissioners and Pagenhardt met with John Nelson, director for the Department of Planning and Land Development, to discuss a proposed Land Use Management Ordinance. Raley said Nelson began the review for the proposed plan by asking for the commission’s thoughts on a variety or sections of the ordinance.
• Commissioners ap-proved and executed a license agreement be-tween county commissioners and the University of Maryland and also approved a trail license agreement between the board and the Maryland Department of Natural Resources.
• James Stanto, representing the Youghiogheny River Watershed Association, provided an update on the Stream Waders Monitoring program.
More here.
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