Unsinkable: A Memoir by Reynolds Debbie & Hannaway Dorian

Author:Reynolds, Debbie & Hannaway, Dorian [Reynolds, Debbie]
Language: eng
Format: epub
ISBN: 9780062213679
Publisher: HarperCollins
Published: 2013-04-02T07:00:00+00:00

My next attempt at a museum, a beautiful complex in Tennessee. Yet another disappointment, with much time and money lost. This drawing of the proposed site was part of a promotional brochure.

But God had other plans. The Bush economy of 2007 and 2008 collapsed, taking a lot of people with it. Countrywide Financial had underwritten our museum. Down went Countrywide, and Debbie right along with them. Regions Bank took over the Countrywide loans and planned to foreclose on the Belle Island Village project. The funding for the developers’ loan was canceled, in spite of its merit. The banks didn’t want to lend money to anyone.

The City of Pigeon Forge had guaranteed the project with municipal bonds. Just as we’d completed the building’s shell, they pulled out. A city planner sent us word that the city had decided to go with another project. I never understood the reasoning. Aside from shattering my dream of building a museum for what would be the last time, this decision also deprived the Pigeon Forge area of some wonderful attractions that would have continued to employ many people in the area. Our museum would have been only a few miles from Dollywood, and right next door to the NASCAR building. That alone would have made us a success. Todd and I both called the office of the governor of Tennessee, but we never got a response.

Once again, my troubles were just beginning. When Pigeon Forge backed out, I buried myself in work to keep all of us going. Meanwhile, the $1.5 million loan Todd had arranged with Greg Orman was in default. The loan had gone on for more than five years, and when we didn’t repay the loan or the interest, the interest rate kept rising. Todd knew about this, but had kept the details from me. So I was unprepared for the lawsuit that Orman filed against us.

Still, the worst was yet to come.

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