DOVER, Del. (AP) - A bankruptcy judge says a Delaware town properly terminated a lease agreement with the developer of a proposed sports park because the developer failed to uphold its end of the bargain.
In a ruling issued Monday, the judge said Delaware Sports Complex LLC defaulted on its lease obligation for the 170-acre Middletown site by failing to enter into a recoupment agreement with the Delaware Department of Transportation. That agreement was necessary because the project needed either a full traffic impact study or for the developer to participate in a recoupment agreement regarding traffic-related costs.
The developer had suggested at a recent court hearing that it may want to develop only part of the property, and that the DelDOT agreement would not be needed because of the lighter traffic.
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