Lawsuit claims Robbins quarry developer defaulted on loan

Oct 16, 2013 | Posted by: roboblogger | Full story: The Southtown Star

First Midwest Bank has filed a lawsuit in Cook County Circuit Court claiming that the west suburban developer planning a limestone quarry and underground mine in Robbins defaulted on a $350,000 loan.

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1 - 18 of 18 Comments Last updated Oct 27, 2013
October Surprise or

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#1
Oct 17, 2013
 
Trick or Treat?
Hummm

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#2
Oct 17, 2013
 
Misleading, misrepresentation, conflict of interest, ethics violations, perhaps?
Pop Quiz

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#4
Oct 18, 2013
 
Hope YOU Did Your Homework!

ESSAY QUESTION:
ANSWER THE FOLLOWING QUESTION in complete sentences for EXTRA CREDIT.

1. Describe the Massive Limestone Quarry in Robbins, the impact it would have on the inhabitants of Robbins, the surrounding communities, the relationship between the Failed Developer and the Robbins Master Planner. Identify Who was going to sponsor a "Quick Take Bill in Springfield". Did the developer forget about his pending lawsuits or was it something else? Finally, WHO Was Going to ACTUALLY Benefit From this Project?
Trick

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#5
Oct 20, 2013
 
October Surprise or wrote:
Trick or Treat?
After the last seven years Most of the Developers ARE BANKRUPT or STRUGGLING!
October Surprise

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#6
Oct 20, 2013
 
Trick wrote:
<quoted text>
After the last seven years Most of the Developers ARE BANKRUPT or STRUGGLING!
Did you know:
Robbins Quarry is an active limestone mine located in Dixon, Illinois. It has 2 employees and is operated by Renner Quarries, Ltd.
Banker

Morris, IL

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#7
Oct 21, 2013
 
Some of the most successful American business stories have ownership in some sort of Bankruptcy at some point in life. It's nothing new to people who assume risks & grow businesses.
I've read about the plan & asked my own questions of the elected officials - to me it sounds like a good thing for the area. They need something to make the revenue wheel turn for those communities.
Risky Business

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#8
Oct 21, 2013
 
Banker wrote:
Some of the most successful American business stories have ownership in some sort of Bankruptcy at some point in life. It's nothing new to people who assume risks & grow businesses.
I've read about the plan & asked my own questions of the elected officials - to me it sounds like a good thing for the area. They need something to make the revenue wheel turn for those communities.
The Robbins agreement stipulates that there are no pending lawsuits against the developer that threaten the project.

"The developer can not financially support his project and apparently was (choose one or more) forgetful, misleading, or not truthful".
Humm

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#9
Oct 21, 2013
 
Risky Business wrote:
<quoted text>
The Robbins agreement stipulates that there are no pending lawsuits against the developer that threaten the project.
"The developer can not financially support his project and apparently was (choose one or more) forgetful, misleading, or not truthful".
Very High Risk Loan

What Loan Officer would be ready and willing to sign off on his loan?
BofA and Chase have had SUBSTANTIAL FINES.
BIG Picture

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#10
Oct 23, 2013
 
Banker wrote:
Some of the most successful American business stories have ownership in some sort of Bankruptcy at some point in life. It's nothing new to people who assume risks & grow businesses.
I've read about the plan & asked my own questions of the elected officials - to me it sounds like a good thing for the area. They need something to make the revenue wheel turn for those communities.
The lawsuits were filed about nine months after ALM Resources was founded and about three months before the company signed the development agreement with Robbins, records from the Illinois secretary of state’s office show. The Robbins agreement stipulates that there are no pending lawsuits against the developer that threaten the project.

What is the penalty for making false statement(s) with the Illinois secretary of state's office?
Rock Solid

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#11
Oct 23, 2013
 
BIG Picture wrote:
<quoted text>
The lawsuits were filed about nine months after ALM Resources was founded and about three months before the company signed the development agreement with Robbins, records from the Illinois secretary of state’s office show. The Robbins agreement stipulates that there are no pending lawsuits against the developer that threaten the project.
What is the penalty for making false statement(s) with the Illinois secretary of state's office?
I've read all the documents as obtained through the Village using FOIA & the County Recorders office.
What you're failing to see is that the "developer" is ALM Resources & the default of loan (or as you call it pending lawsuit) is against James Louthen & Town Builder Studios. Just because he is a spokesperson bears no merit to the developer itself.
When GM & Chrylsler were in bankruptcy, were all the salesmen & mechanics deadbeats too?
I'd love to run credit on any person that attends a Robbins meeting!
Rocks Make Me Hard

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#12
Oct 23, 2013
 

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OK, so am I the only one who is ecstatic about this at all?

I drive through Robbins almost every single day, I live less than a mile away from where this is planned, and I can't wait. Robbins is a dump, and the whole town would benefit from being made into a quarry....or just bombing it.

This will be the best thing to happen to Robbins since they tore down the projects that would've been in the footprint of this glorious undertaking.
Stinks

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#13
Oct 24, 2013
 

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Rock Solid wrote:
<quoted text>
I've read all the documents as obtained through the Village using FOIA & the County Recorders office.
What you're failing to see is that the "developer" is ALM Resources & the default of loan (or as you call it pending lawsuit) is against James Louthen & Town Builder Studios. Just because he is a spokesperson bears no merit to the developer itself.
When GM & Chrylsler were in bankruptcy, were all the salesmen & mechanics deadbeats too?
I'd love to run credit on any person that attends a Robbins meeting!
None of the structures and streets in Robbins or the surrounding communities have been REINFORCED TO PREPARE FOR A QUARRY PROJECT.
If this was really a good idea WHY WAS IT UNDER THE TABLE and KEPT IN SECRET FOR SO LONG?
Busy Moving the Money

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#15
Oct 24, 2013
 
Stinks wrote:
<quoted text>
None of the structures and streets in Robbins or the surrounding communities have been REINFORCED TO PREPARE FOR A QUARRY PROJECT.
If this was really a good idea WHY WAS IT UNDER THE TABLE and KEPT IN SECRET FOR SO LONG?
Just a little to busy moving money around.
Rocks Make Me Hard

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#17
Oct 25, 2013
 
Stinks wrote:
<quoted text>
None of the structures and streets in Robbins or the surrounding communities have been REINFORCED TO PREPARE FOR A QUARRY PROJECT.
If this was really a good idea WHY WAS IT UNDER THE TABLE and KEPT IN SECRET FOR SO LONG?
Most of the structures in Robbins haven't been reinforced enough to withstand a light breeze....

It was kept "under the table and secret" because a small handful of people that would be affected would bitch and moan incessantly about their worthless property. If you've read any other articles about this and seen some of the wonderful quotes from residents affected, you would see most of them can't form a coherent sentence. When only 100 occupied homes would be affected to bring any economic activity greater than a gas station or dollar store to all of Robbins on land that is mostly dotted with burned out shells of houses, I'd say that's a good trade.

Oh, and I'm pretty sure the previous mayor was seriously going batshit crazy, literally.
Stinks

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#18
Oct 25, 2013
 
Rocks Make Me Hard wrote:
<quoted text>
Most of the structures in Robbins haven't been reinforced enough to withstand a light breeze....
It was kept "under the table and secret" because a small handful of people that would be affected would bitch and moan incessantly about their worthless property. If you've read any other articles about this and seen some of the wonderful quotes from residents affected, you would see most of them can't form a coherent sentence. When only 100 occupied homes would be affected to bring any economic activity greater than a gas station or dollar store to all of Robbins on land that is mostly dotted with burned out shells of houses, I'd say that's a good trade.
Oh, and I'm pretty sure the previous mayor was seriously going batshit crazy, literally.
The impacted surrounding communities were not informed there is no IEPA report, no IDOT report, no ACE report, no impact study, no feasibility study, and the developer was not honest period. The whole project stinks including the ink.
Horrible Idea

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#20
Oct 26, 2013
 
Stinks wrote:
<quoted text>
The impacted surrounding communities were not informed there is no IEPA report, no IDOT report, no ACE report, no impact study, no feasibility study, and the developer was not honest period. The whole project stinks including the ink.
Bad idea from the very beginning. What were they thinking about?
Developer

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#21
Oct 26, 2013
 
Ok he's in debt, owes the bank 1/2 a million, has had projects that failed. Does he have any successful projects? Anything?
Anything

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#22
Oct 27, 2013
 
Developer wrote:
Ok he's in debt, owes the bank 1/2 a million, has had projects that failed. Does he have any successful projects? Anything?
Humm, Silence..

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