To the Editor:
Disappointing to say the least, but 48 Main Street in Vineyard Haven, the site of Cafe Moxie, is probably losing another season.
Construction is still halted due to proximity to power lines. Strangely, there are no major issues in this protracted delay. It’s just that the NStar process is painfully slow.
Town officials have reached out and been helpful. I’ll apologize ahead of time for any inconvenience to business neighbors. As there’s a lot of misinformation, I want to set the record straight.
I had just bought my partner out prior to the July 2008 fire, refinanced, and was $200,000 under-insured. If you read your loan documentation you’ll find that your bank can call in your note as they feel like it. Then your insurance money goes directly to the bank. As one lawyer said to me, the law isn’t black and white, but gray.
Every day for the first year, without exaggeration, I spoke to lawyers, adjusters, and the bank. Now, almost two years later, it’s a different time. Commercial lending is in the tank. We’re three-quarters framed, and banks don’t want to know you. It’s been no picnic. Mike Ryan and the crew at Island Wood Works continue to shoulder the building effort and will start again soon. Eventually NStar will bury the lines as planned and we will continue. I can be reached at email@example.com.