The Baltimore Development Corp. is seeking repayment of a $200,000 loan it made to the previous owners of The Inn at the Black Olive in Fells Point.
The BDC gave the loan to The Black Olive Development Co. LLC in February 2011, according to a complaint filed Tuesday in Baltimore City Circuit Court. The judgment by confession seeks the unpaid principal of more than $196,000 as well as more than $29,000 in attorneys’ fees.
The Black Olive Development Co. filed for Chapter 7 bankruptcy in March. The company is owned by the Spiliadis family, which also owns the nearby Black Olive restaurant as well as Olive Grove Catering Inc. The catering company is also named as a defendant by the BDC.
The boutique hotel was sold at auction in June for $3.9 million to 1st Mariner Bank, which holds the mortgage and foreclosed on the property in January.
The sale was completed in June, according to bankruptcy records. The Spiliadis family continues to run the hotel under an arrangement with 1st Mariner.
OK, this post may get a tad convoluted, so please bear with me.
Yesterday I got an email from the listserv at Ram’s Head Live, the downtown Baltimore concert venue where I’ve seen two concerts in the last month, advertising a newly-announced show by indie-pop star Santigold. Now, the reason this caught my eye — I’m not a huge fan of her brand of punk-meets-reggae-meets-hip-hop-remix style — is because until a few months ago, the singer was known as Santogold with an “O.” This is important because 2008 was a break-out year for Santogold. She toured in support of British supergroup Coldplay, her album made influential music website Pitchfork.com’s Top 50 “best of” list, and her songs were remixed by big-name DJs.
So I did some googling in search of an explanation, and ended up lost in a weird world of infomercials, space aliens, fake rock stars, and ’80s pro wrestling movies shot inside the Baltimore Civic Center (now 1st Mariner Arena).