4 a . Herald & Lantern 18 July '84

LaBounty Exits; Says Track Alive

(From Page 1) ceeding according, to a schedule to be developed at (Tuesday night'si meeting." Cape Motorsport still lacks FA A (Federal Aviation Administration) approval for a two and one-half mile track at the airport which LaBounty first predicted would come in early April, then .July I1E CONFIRMED that the latest pro blem was an FAA requirement that Cape Motorsport acquire the Campbell tract adjacent to the field to guarantee future air port development. LaBounty said Cape Motorsport had an I option to buy the tract, but that expired Ju- ' ly 1 That firm was in a "Catch 22 situation" he said, with its financial backers unwilling to commit any money until all approvals were received and the firm unable to get the FAA approval without the funds to buy the tract. "We will be able to do something without having to deal with that piece of proper ty," LaBounty said Monday, "and still satisfy everybody's needs." LaBounty also confirmed that he had sought out buyers for his share in Cape Motorsport. "If someone were interest in buying me out. I would certainly discuss it with him" said LaBounty. "But I'm not bailing out on the project." OTHER CAFE MOTORSPORT prin cipals were close mouthed about the project's future "We're still working on it; the project is status quo." said Patricia Briodi, \ftce president. "Jack does not want anything to be discussed at this time." "I'm not at liberty to discuss it." said her husband. James, vice president. Both are account executives with Prudential-Bache Securities in Cherry

Hill, which is not involved with the project. Richard Frankel of Ardmore. Pa . a consultant to LaBounty who originally came up with the Equity Mortgage financing, was contacted at Boca Raton. Fla. where he is opening an office for Equity He said he hasn't talked to LaBounty since January. He referred questions to Steve Nissenbaum of Equity's Philadelphia office, who said he had "no comment" at this time. THE PROJECT HAD a $3 1-million price tag anCthe Herald and Lantern reported in January that a local bank would provide a short-term $2-milIion construction loan that Equity would take over < The prime rate was 1 1 percent then and | js 13 percent today. LaBounty said Monday \ that would be no problem. LaBounty last month said he'd \ "dumped" the track's '84 schedule and would have a full racing calendar in 1985. He said a 75-day construction period would start in September or October and be concluded next April or May. The race track is a two-year-old proposal that has undergone numerous modifications, many necessary for government agency approvals. LaBounty has estimated it will have a »*tazen full-time employes. 36 part-time. i#d attract 25.000 to *5.000 spectators a weekend for 42 weekends of activities. He said it would bring the county economy $8 million a year. Woodbine would get job preference and an estimated $21,00o a year in propertytaxes. The authority would get $20,000 a year in rent, an adjustment based on the Consumer Price Index after five years, and 1 percent of gross revenue starting in 1986. That revenue would come from advertising,' admissions, food servjce and track rental. AMONG THE "staff cutbacks" LaBoun ty has had to make was Alan Richter of * Marmora, director of marketing. "We were on a roll," said Richter. tick ing off potential clients for advertising who had signed letters of commitment ; '''Coca Cola. Tastykake. Ocean City, the Wonderland Pier. Tuckahoe Inn. Corbin House restaurant, motels ..." He said Siegel Brothers groceries of Woodbine was to have been the food supplier "There was a bureaucratic maze," said Richter "It was a Herculean task to clear the hurdles. It's unfortunate It would have been a boon to the area, extending the season." Richter called LaBounty "an inspira tional type of person. There was never any negativism." Richter said his mid-April lay-off "was to be temporary I wait any day for his call "

Jack "LaBounty

Nursing Home Proposed

By E.J. DUFFY COLD SPRING — Vincent Amico. con sultant for Geriatric & Medical Centers Inc.. told township council Monday night that his firm wants to build a nursing home here but local zoning doesn't allow it Amico's Philadelphia company, which operates seven other regional facilities, would like to buy a 20-acre site on Shuhpike Road, between Ferry and Town Bank roads and behind Maud Abrams Elementary School The 180-bed nu. sing home for long-term care patiehts would cost $5-$6 million and ^ employ more than 110 professional and non professional personnel. Amico ex plained The building would be constructed on three to seven acres w ith the remaining land used as a landscaped butler zone Water and sewer mains have been in stalled along Town Bank Road, noted Amico's attorney. Eric Gaver His client, the lawyer said, is prepared to purchase the preferred tract if the township can cut some red tape on zoning « "AnylMKly that wants to enter into < such a development), wants to avoid the need lor a variance." he told eouncilmcn during their work session. "We would like the 'council) to consider permitting" a nursing home in the site's R-2 'residential zone or allow it there under certain conditions "IT APPEARS." Gaver said earlier, "that there's nowhere in Lower Township where a. nursing home would be permitted."" Amico. Gaver noted, has acquired a certificate of neetj from the state The countv

Office on Aging told Amico. he said. thai" there's a need for a nursing home in Lower, but presently no place to build i» i "We have made a moral commit men! to I this area." Amico added We'd like to > keep it " Councilman David F Brand Jr asked i Feme Detwiler. township land use official. "if this is rezoned to permit that, what else • could they put in there '' She said golf courses, campgrounds, housing and hospitals are allowed in the R-2 zone i "You would be opening up the entire K-2 I zone to nursing hemes." Solicitor Bruce I Gorman advised council "Throughout the township'' asked I Brand "THROUGHOUT THE TOW NSlfl P.Gorman confirmed, adding that council need not "operate in the dark in deciding the zoning request. The question could iirst be put to municipal zoners and planners Rather than amend the township zoning ordinance to incorporate nursing homes in R-2 districts throughout Lower. Gaver sug gested that the tow nship consider allow ing them only as a "conditional use " By imposing such conditions as minimum lot size or sewage availability, he said, a zoning amendement. accommodating his client, "would not leave the township wide open on R-2." I think the planning board shouik|ook it ( the request i over and give us some feed back." said Deputy Mayor Joseph Daviij. He formed his view into a motion and council voted unanimously to refer Hie matter to the Planning Board

News Digest i From Page 1 > Hospital voted 177-137 last week to be represented by Local 1358. United Food and Commercial Workers' International Union Professional staffer's voted 64-59 for the union, but 21 ballots were challenged; a decision on them is ex peeled later this month The votes follow ed mandatory anti-union meetings for employes held by hospital administrators last week and 7 percent«pay hikes this month. A Local 1358 organizer called the latter an insult and attempted bribery Odor Suit !\o.l ; OCEAN CITY — Administrator Joseph Kane announced last week that the resort • is considering a suit against the countyMunicipal Utilities Authority (MUA) if MUA officials don't correct odor problems at the $47-million sewage treatment plant on 46th Street. Councilman John Esposito told his colleagues that he's heard about odor complaints against the 20th Street substation as well. Council members agreed that an MUA suit would be a last resoftr-but told Kane to investigate one anyway. Odor Suit No. 2 CAPE M/\ — County MUA lawyer Thomas Higgins has warned resort officials that the MUA will sue the city if it doesn't pay $10,000 in user charges it 's withheld to protest odors at the MUA's sewage pumping station on Madison Avenue. City council, however, decided last week to continue witholding the money until the odor is eliminated. The MUA has ordered a stack to help ventilate the pumping station and said it will add scrubbers if needed. Shattered Memories SEA ISLE CITY — John B. O'Keefe. 20, of Holland. Pa., a summer resident of 76th Street, was released on his own recognizance after police arrested him last Wednesday for vandalizing Beach Patrol headquarters at 44th Street More than $2,000 in damage was reported to equipment and irreplaceable lifeguard memorabilia. O'Keefe was charged with burglary, criminal mischief and harassment. Molesting Charged GOSHEN — Rickson P Robbins and ^ Jam« E Myers, both 33 of Delsea Drive, were freed on bail last week after they were arrested for allegedly molesting boys. 13-16, over the past five years. Both are charged with aggravated sexual contact and endangering the welfare of a child Robbins also faces charges of aggravated sexual assult and lewdness Other charges may follow, according to Capt. Robert Elwell of the county prosecutor's office I Dead, t Injured ERMA Driver William Budnichuk. 31. of Baltimore. Md , was killed and four others injured Sunday afternoon in a twovehicle crash at Shunpike and Taber nacle roads Listed in satisfactory condi tion Monday at Burdette Tomlin Memorial Hospital were Bonnie Bud nichuk. 27; Constance Kirk. 24. of West Chester, Pa., the driver of the other vehi cle; Stephen Krik. Sr 27. and Stephen Krik Jr.. 6 An autopsy was being per formed Monday to determine the exact cause of Mr Budnichuk's death Lower Township Police are investigating the crash Domesticated WILDWOOD - Mayor Earl Ostrander took a spin on the Sea Serpent roller coaster Thursday, pronouncing it safe — and comparing it to his official job - during dedication ceremonies on Mariner's Landing amusement pier. His 94-second thrill ride followed the stranding of 28 passengers who waited several hours to be resped July 8 when the Serpent's brakesapparently malfunctioned Operators corrected the hang-up in time for the dedication of the $1.4 million. 115-foot metal reptile

Banks Slug It Out- — (From Page 1) ly to "convince Statewide for the last 12 months STATEWIDE BANCORP said Midlantic's 25 percent acquisition would hurt Statewide's "ability to raise additional capital from new investors." as well as "inhibit seriously Statewide's continued successful ability to retain and attract key management personnel." Statewide also warned that a merger of Midlantic. which controls 15.6 percent of the commercial bank deposits in Cape May County, and Statewide, which con trols 8 percent of such deposits. " would have a continued, significantly adverse ef feet on competition." Statewide Bancorp came to Cape MayCounty in March, acquiring four First Jersey National offices in Cape May Court House, Villas and Rio Grande Midlantic came to the county June 1 ac quiring six Union Trust Company offices in Wildwood, Wildwood Crest, North Wildwood, Avalon and North Cape May Statewide Bancorp has 39 branches, a 40th under construction and assets just under $1 billion. Midlantic has 185 branches and assets of $6 5 billion. STATEWIDE BANCORP first turned down a Midlantic offer a $26 a share in February. In March it rejected a Midlantic attempt to purchase a $13.75-million newpreferred stock issue. Now Midlantic has asked the Federal Reserve Board for permission to solicit Bancorp stockholders in order to acquire up to 24.9 percent of its voting shares. It already owns 4.8 percent and has an option to acquire another 2 percent from Horizon Bancorp, holding company for Marine National Bank, and others Robertson called the latest Midlantic move "an unusual transaction, the first time in New Jersey" a bank had made such an attempt "through adverse means." Garnevicus said this "is not an unusual transaction. It's not an everyday occurance. but it's been dope before." "WE SHOULD REMAIN independent," said Robertson. "Every dollar we take in from the community goes back into the community, contrary to the major bankholding companies." Robertson said Cape May County's acceptance of the First National Bank of Toms River has been "astounding" "It has been satisfying far beyond what we expected." he said. "We thought it would be difficult to acquire a friendship type of relationship. It indicates our services and loan rates are needed." Robertson said Toms River has grown at a 22 percent rate since it arrived in the county IN A JULY 10 LETTER to shareholders who could find themselves being wooded by Midlantic. Robertson asked "for your continued support fhat (First National of Toms River) remain an independent com munity bank which we feel will be in the shareholders' best interest and in the best interest of our employes, customers, communities and areas we presently serve. We ask your support so that future growth of your corporation will not be hindered by the efforts of others to acquire your banking corporation as we move forward in our progressive, well-planned strategies for the development of a sound independent community banking corporation."

Chills Tourists (From Page 1) littered with people with blue ankles showing how far into the water they'd advanced. Specialists with the National Weather Service in Atlantic City said the water temperature there ranged from 58 to 67 last Saturday, from 64 to 66 on Sunday .^and was 63 Monday morning. V JIM VAUGHN of the Service said - "prolonged periods" of south to southwest winds "pushed out the surface water and the ( colder ) bottom water came up. "You'll see it happen a number of times, but usually hot for this long." he said. "That's retarding the heating of the top layer," added Ross Gardner of the Service "That's a big pool to heat up. "We need the Gulf Stream to come in closer," added Gardner, "but you can't predict that." J Both said-warmer water will come. Followed by jelly fish probably.