Judge Signs Off on Oregon Garden Plan

The deal allows the Silverton tourist attraction another chance at success.

Photo Courtesy: Oregon Gardens

(SILVERTON) - Marion County Judge Don Dickey on Wednesday approved a plan by the Oregon Garden`s major creditors and a receiver.

The action clears the way for Moonstone Hotel Properties to buy 11 acres overlooking the garden where it plans to build a hotel.

As part of the agreement, the city of Silverton has agreed to buy the nine acres owned by the garden foundation, and pay off a secured claim on the property.

The garden was built as a tourist draw for the Silverton area, however attendance numbers failed to live up to expectations.

A five million dollar bond was issued by Marion County in 2002, which made the garden`s money problems the county`s problem.

As for creditors, such as Marion County, getting paid will depend on Moonstone`s ability to generate revenue from the garden and the hotel.

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