Based on official minutes of meetings of the Vineland Development Corporation we’re now wondering if Vincent Squire, the flawed freeholder candidate the Republicans in Camden County want off their ticket, tried to pull a fast one in Vineland.
It appears, according to meeting minutes, Squire wanted to rent the old Landis Marketplace from the Vineland Development Corporation. According to the September 17, 2015 meeting minutes:
Property Lease: Sandra Forosisky updated the board on the lease for 631 E. Landis Avenue (formerly the Landis Marketplace). She advised that she received and email from Mr. Vincent Squire’s accountant regarding his financials. The accountant stated that the financials should be received by September 23, 2015.
Three months later, in January 2016, the issue of Squire renting the old Landis Marketplace came up again. Apparently, Squire signed the lease, gave the Vineland Development Corporation a check and asked them to hold the check. From the January 21, 2016 meeting minutes:
Sandra Forosisky reported to the board that she received the signed lease from Vincent Squire in connection with the lease of the Landis Marketplace. She also received the down payment but was requested to hold the check. After much discussion and review, Sandra suggested that Mr. Wilson Lu be involved in the rental of the marketplace along with Mr. Squire.
Reading that, it appears the Vineland Development Corporation didn’t exactly trust Squire because they suggested he would require a partner to make the deal happen. Following is what the Vineland Development Corporation finally decided in the meeting minutes:
After discussions, a motion was made by Cosmo Giovinazzi, seconded by Praful Thakkar approving the following conditions in connection with the lease between the VDC and Vincent Squire:
1) 2 months security and 6 months’ rent up front
2) A guarantee from Wilson Lu
3) Certified check or wired funds as payment
4) No allowed to make permanent changes to the building
All members approved.
It’s obvious that between whatever financials were sent by Squire’s accountant in September 2015, coupled with the fact Squire asked the Vineland Development Corporation to hold his check that the folks running the Vineland Development Corporation saw something wasn’t exactly right with Squire.
Asking for 6 months rent up front is unusual, requiring a cosigner is unusual and requiring payment be made by certified check or wired funds is highly unusual.
All this makes it fair to ask if the Vineland Development Corporation feared Squire was trying to pull a fast one on them?
As best we can tell Squire wasn’t willing to accept the terms laid out by Vineland Development Corporation and never moved in. All we can say is good job to the Vineland Development Corporation for seeing through this guy’s BS.