MWCD working with Chartwell Group for transfer of ownership of Atwood Lake Resort

September 6, 2011

The Muskingum Watershed Conservancy District (“MWCD”) announced they are implementing a plan to identify an appropriate Governmental or Educational Entity to donate the Atwood Lodge (“Lodge”) located in Carroll County, OH about 15 miles NE of Dover, Ohio. MWCD has owned the Lodge for over 45 years. Their ultimate goal will be to transfer the ownership of the 600± acre facility that includes: a 104-Room Hotel; Conference Center; and 27 holes of Golf to an entity that can preserve and ‘revitalize’ operations of the Lodge.

Chartwell Group, LLC, Real Estate Consultants and Brokers, headquartered in Cleveland, OH, have been retained to advise MWCD in the disposition the Lodge. Curt Schneider, V.P. of Chartwell Group will spearhead the identifying of an appropriate donee for MWCD. Schneider stated, “Donating the property to a University, Governmental Agency, or a Natural Resources Group is the first choice of the MWCD. Terms of a ‘structured donation’ will include land, buildings, fixtures, Mineral and Timber Rights of the Lodge Property.”

Historically, the Atwood Lodge has not been a source of revenue for the MWCD, with money being lost in most years since it opened in 1965. In the current U.S. economic downturn, losses have been accelerating.

Schneider indicated, “As our economy continues to slowly recover this Lodge presents outstanding upside potential and the ability to continue on as a ‘Jewel’ for Carroll County.” The potential donation will account for restrictions that will protect the water quality of Atwood Lake, including prohibiting industrial use of the property, mining and large-scale “factory farm” operations.

The MWCD, a political subdivision of the state, was organized in 1933 to develop and implement a plan to reduce flooding and conserve water for beneficial public uses in the Muskingum River Watershed, the largest wholly contained watershed in Ohio. Since their construction, the 16 reservoirs and dams in the MWCD region have been credited for saving nearly $10 billion worth of potential property damage from flooding, according to the federal government, as well as providing popular recreational opportunities that bolster the region’s economy. A significant portion of the reservoirs are managed by the MWCD and the dams are managed for flood-risk management by the federal U.S. Army Corps of Engineers (USACE).

Chartwell Group, Commercial Real Estate Broker & Investments Headquarters, is located in Cleveland, OH; and has conducted real estate transactions in over 39 states, four provinces of Canada and the Bahamas.

Chartwell Group is part of TCN Worldwide with Commercial Brokerage Offices in over 200 Markets throughout the U.S and Worldwide including London, New York, Washington DC, Cleveland, Chicago, Dallas, Los Angeles, Sydney, Seoul, & Beijing.

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