John SchroyerThe owners of a Colorado marijuana business park are trying to foreclose on property owned by one of its tenants due to a long-running dispute over who’s responsible for paying the electrical bill.
The tenant, Terry Ferrari, allegedly owes the owners of Area 420 – a business park that is home to about 70 cannabis-related companies – more than $100,000 in unpaid electricity bills plus interest, according to a lawsuit filed by Area 420’s parent company, Potch LLC, NBC reported.
Both sides began pointing fingers over who was responsible for the electrical bill not long after Ferrari purchased land in the business park in 2021, but the sale contract for the land didn’t specify which party was responsible for having commercial-level indoor lighting and electrical systems installed.
Ferrari said he understood that was on Area 420, while Area 420 owners say Ferrari knew he’d have to arrange for electricity through the local utility, the San Luis Valley Rural Electric Cooperative.
Frustrated, Ferrari quit paying Area 420. He told NBC that he’s already spent another $2 million for construction and renovations on the property, but the necessary electrical upgrades could be cost-prohibitive to further operations.
“I’ve been looking at a big building that I can’t use, and I’m in a big heap of trouble, because they promised me power and couldn’t give it to me,” Ferrari told NBC, adding that he committed his life savings to the proposed farm.
But Mike Biggio, one of the owners of Area 420, responded, “It’s up to each individual buyer to determine how much power they need, and then they have to pay for it. This is a power company issue, not a developer issue. … I’ve bent over backwards trying to work with him.”
3 comments
Terry ferrari
November 6, 2023 at 8:00 pm
This story is completely wrong, there is no unpaid electricity bill, potch sold me land and promised power and then failed to provide it. Please do your research before posting such inaccurate nonsense. The full story including copies of contracts , emails and even the area 420 owner on tape promising me power is on my website at http://www.area420info.com there is also a video of the owner of area 420 threatening someone with an assault and attacking him before hospitalized him. Mike biggio is facing felony burglary and assault charges for these crimes and is looking at 10 to 32 years in prison. He also has an extensive rap sheet and is a career criminal. Copy of his rap sheet is on my website as well
Jack Off
November 6, 2023 at 10:18 pm
Well, I can say this, he’s not the only one that has had extensive problems at this location due to the developers in my opinion as a contractor, due to there negligence and misrepresentations
Word on the street is that she’s going to have multiple lawsuits coming her way constructive fraud deception in business tortuous interference of a business. There’s more than a few people out there that are unhappy with them and to be clear the developer is responsible for putting power in a subdivision. That’s how it’s works kind of like putting the roads in the water in etc. etc..
GREEN MARKET REPORT DOES NOT DUE THEIR DUE DILIGENCE THEY HAVE PUBLISHED FALSE STATEMENTS BE WARY OF WHAT THEY WRITE
terry ferrari
November 7, 2023 at 8:41 am
Jack off is exactly correct. They sold a package with power and water on site, all the buyer is on the hook for is the connection fee from the street to their plot. Potch took my money, then watched me spend almost $2 million on my building knowing they had refused the utility company offer for my power. Then they try to claim they did not promise me power when it is actually written into my contract. Nobody would pay 100mtimes market value for land with no power. There are other victims as well about to start their own claims, we will all testify on each others behalf. Whitney justice is worth many millions and can repay the losses personally. We are suing her personally as well as biggio as well as potch llc. I do wish the author of this article would check my website to look atbthe actual,evidence, emails, text, phone recordings etc then correct this story which is wildly inaccurate