Lenders Foreclose on Ambitious Nevada RV Park Plan
Lenders last week assumed ownership through foreclosure of a 20-acre tract of land in Tonopah, Nev., where Jerry Wang, chief executive officer of the Forum Group Ltd., had plans for an ambitious resort complex.
There were no buyers at the trustee sale on the courthouse steps in Tonopah, according to the Pahrump Valley Times.
The lenders are listed in records on file at the Nye County recorder's office as the Feldstein Trust, which includes Carl Mayer Feldstein and Patricia Ann Feldstein. The foreclosure is to satisfy the unpaid principal of $500,000 with interest dating from Aug. 15, 2008.
In November 1999, Wang told an audience of 200 people, "At least every other household will have something to do with this project."
Wang planned to begin construction in January 2000. When the project was completed in five to seven years, Wang predicted 18,000 jobs would be created. His project, The Oasis at Shangri-la, would have included an Oriental-themed hotel, casino, retail shopping complex, recreational vehicle park, convenience store and the St. Thomas Place condominium project, for which a sign stood for many years at the site. The proposed site is located midway between Las Vegas and Reno.
Hogan said at that time the Forum Group already spent $600,000 on the Oasis at Shangri-la project for land development, design work and government permitting.
But the Nevada Department of Transportation wouldn't issue an encroachment permit for boring under Highway 372 to provide utility service. While the county commission approved his RV park, former county manager Ron Williams told Wang there was a moratorium on constructing additional RV parks.
In a 2005 meeting, in Wang's absence, county commissioners denied the project because of the density of the project, the intensity of land use and the lack of a will-serve letter from a public water and sewer utility.
In September 2008, Wang filed suit in federal court against Nye County claiming discrimination due to his Asian-American heritage. Wang claimed in his suit the passage of the so-called English-Only ordinance in November 2006 helped foster a culture of racial discrimination.
Wang had requested commissioners table his item requesting an extension to a subdivision improvement agreement until the next meeting because he had to return to Las Vegas for an emergency. Instead, commissioners terminated the agreement.
At that September 2006 meeting, Nye County Chief Civil Deputy District Attorney Ron Kent said the county commission made it clear there would be no more extensions.
When contacted for an update on the suit this week, Kent said, "The lawsuit remains pending and the county is proceeding with a zealous defense."
Wang couldn't be reached for comment.