Mark Dickinson of Dickinson Development said Thursday he is currently in the process of lining up his equity investors and obtaining permits for the Dover waterfront project. Dickinson signed a Land Disposition Act with the City of Dover saying if he was unable to break ground within three years of Aug. 26, 2009, he would make extension payments of $10,000 a month to the city. Dickinson said he sent his check to Dover on Thursday and will continue to do so until his financing and permits are in order. If the Dickinson Development is unable to close on the property in two years’ time, the contract obligations between all parties in the development will expire, that according to City Manager Michael Joyal.
The large-scale project, which was planned and approved by Dickinson and the city, will bring in new restaurants, commercial buildings, apartments and additional parking.