Nixon's Farm files for bankruptcy, staves off foreclosure
Attorney says farm will operate as normal and plans for development continue
By Derek Simmonsen
dsimmonsen@patuxent.com
Posted 6/23/09
Nixon’s Farm in West Friendship staved off a last-minute foreclosure auction after a member of the family filed for bankruptcy Tuesday.
The family’s attorney said Nixon’s Farm will continue to operate as normal and is moving ahead with plans to develop portions of the property into a multi-generational residential community.
Mildred Nixon, 81, filed for Chapter 11 in U.S. Bankruptcy Court in Baltimore on Tuesday, court records show. She bought the farmland with her husband, Roosevelt, in 1956 and originally operated it as a country club for blacks and Jews, who were excluded from other recreation areas in the county at the time.
Her son, Randall Nixon, 52, manages the property, where the family continues to farm and hold weddings, picnics and other special events in a barn converted into a banquet hall.
“The family appreciates all the support it’s gotten during this period of difficulty, which is a temporary period, and looks forward to finishing its development and moving forward,” said attorney James Vidmar in a statement.
Randall Nixon declined to comment beyond the statement.
The Web site for American Auctions & Appraisals, which was set to conduct the foreclosure sale Wednesday in front of the Howard County courthouse in Ellicott City, lists the sale as postponed. A company official said it had been “postponed indefinitely.”
Columbia Bank had pushed for the sale of 97 acres of the family’s land off of Route 32 after the Nixon family defaulted on roughly $2.9 million worth of debt stemming from a 2002 loan. An attorney representing the bank did not return a call for comment.
The bankruptcy filing halted the foreclosure from taking place, Vidmar said. According to the bankruptcy filing, the debts are primarily business-related and Nixon’s liabilities are listed as less than $10 million, court records show.
Outside of the Columbia Bank loan, Mildred Nixon lists roughly $37,000 in credit card debt, another $10,000 line of credit from Bank of America and roughly $82,000 in property taxes.
Randall Nixon last week announced that part of the family’s 127 acres of land would be sold for development and the business itself would be expanded. The idea is to create “West Haven at Nixon’s Farm” — a multi-generational housing community that would allow senior citizens to live with their children and grandchildren.
Nixon previously said he expected to have financing for the project lined up by July 1 and Vidmar said those plans are continuing to move forward.
A previous plan to develop the property — crafted in 2004 at the height of the real estate boom — was sunk after the developer pulled out of the project in December 2007, Nixon said. The family took out loans as part of the development process and the three foreclosure cases filed against them since 2006 on three separate properties were related to the deal falling through, he said.
Nixon’s plans for the property call for building up to 47 homes, about half of them set aside for assisted living, he said. The plans would keep much of the open space and the scenic views, concentrating the homes around the central banquet hall, which would expand from 5,000 to 15,000 square feet.
Nixon said he hopes to break ground next spring. Several government officials who have heard initial details of the proposal have been positive.
“I like the thought that it is more than simply another subdivision,” said County Executive Kenneth Ulman. “It sounds like a good idea.”
The family’s attorney said Nixon’s Farm will continue to operate as normal and is moving ahead with plans to develop portions of the property into a multi-generational residential community.
Mildred Nixon, 81, filed for Chapter 11 in U.S. Bankruptcy Court in Baltimore on Tuesday, court records show. She bought the farmland with her husband, Roosevelt, in 1956 and originally operated it as a country club for blacks and Jews, who were excluded from other recreation areas in the county at the time.
Her son, Randall Nixon, 52, manages the property, where the family continues to farm and hold weddings, picnics and other special events in a barn converted into a banquet hall.
“The family appreciates all the support it’s gotten during this period of difficulty, which is a temporary period, and looks forward to finishing its development and moving forward,” said attorney James Vidmar in a statement.
Randall Nixon declined to comment beyond the statement.
The Web site for American Auctions & Appraisals, which was set to conduct the foreclosure sale Wednesday in front of the Howard County courthouse in Ellicott City, lists the sale as postponed. A company official said it had been “postponed indefinitely.”
Columbia Bank had pushed for the sale of 97 acres of the family’s land off of Route 32 after the Nixon family defaulted on roughly $2.9 million worth of debt stemming from a 2002 loan. An attorney representing the bank did not return a call for comment.
The bankruptcy filing halted the foreclosure from taking place, Vidmar said. According to the bankruptcy filing, the debts are primarily business-related and Nixon’s liabilities are listed as less than $10 million, court records show.
Outside of the Columbia Bank loan, Mildred Nixon lists roughly $37,000 in credit card debt, another $10,000 line of credit from Bank of America and roughly $82,000 in property taxes.
Randall Nixon last week announced that part of the family’s 127 acres of land would be sold for development and the business itself would be expanded. The idea is to create “West Haven at Nixon’s Farm” — a multi-generational housing community that would allow senior citizens to live with their children and grandchildren.
Nixon previously said he expected to have financing for the project lined up by July 1 and Vidmar said those plans are continuing to move forward.
A previous plan to develop the property — crafted in 2004 at the height of the real estate boom — was sunk after the developer pulled out of the project in December 2007, Nixon said. The family took out loans as part of the development process and the three foreclosure cases filed against them since 2006 on three separate properties were related to the deal falling through, he said.
Nixon’s plans for the property call for building up to 47 homes, about half of them set aside for assisted living, he said. The plans would keep much of the open space and the scenic views, concentrating the homes around the central banquet hall, which would expand from 5,000 to 15,000 square feet.
Nixon said he hopes to break ground next spring. Several government officials who have heard initial details of the proposal have been positive.
“I like the thought that it is more than simply another subdivision,” said County Executive Kenneth Ulman. “It sounds like a good idea.”
user comments (1)
user bettedolan says...
Oh, the memories at Nixon's Farms and our company picnics. Randy, I wish the economy hadn't hurt us also, I would be the first one to step up and help you. Good luck...it would be a true loss to Howard County to have to do without such a wonderful, friendly, happy place!
Posted 10:48 PM, 06.23.09 | Permalink
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