Carrie Rengers

Tax firm sues over developers' 2-year debt

The $5.6 million mortgage that "Minnesota Guys" Dave Lundberg and Michael Elzufon recently received helped with one headache, but hardly all of them.

"We just paid out $5 million to cure all our problems at the (Wichita ) Executive Centre two weeks ago, and now we're working on the balance of the problems," Lundberg says.

It's not fast enough for Wichita's Tax Adjustment Specialists , though.

Real Development, Lundberg and Elzufon's company, owes the group about $18,000 for help with tax appeals a couple of years ago.

Tax Adjustment Specialists helped Real Development save about $61,000 by appealing to the county to lower appraisals on a few of its buildings.

That's not in dispute.

There's a court date Friday, though, over a civil suit Tax Adjustment Specialists filed in Sedgwick County District Court over lack of payment.

"We were supposed to be paid at that (loan) closing, and we weren't," says attorney Jim McIntyre , who is representing the tax group.

"They made a promise to us that if we sort of put things in limbo (while waiting for the loan) then we would be paid in full," McIntyre says. "That hasn't transpired."

Lundberg said they "always had a fairly friendly ... agreement that we would get to it eventually."

He says his company referred about 25 more clients — people who had purchased floors in Real Development buildings — to Tax Adjustment Specialists as well.

Lundberg thought that gesture would buy Real Development more time, but Lundberg says he guesses the tax group simply got tired of waiting.

"Everybody in the world thought we had a lot of money again," Lundberg says of receiving the loan.

He says that's not the case. Lundberg says the loan could be used only on the Wichita Executive Centre.

He says that will free money for other projects and bills, though, including the money Real Development owes the tax group.

"We're sort of working on the next round," Lundberg says. "They're in the next round."

Restaurant No. 2?

It looks like Bocco Deli owner Nathan Toubia , son of the late restaurateur Antoine Toubia , is working on opening a second restaurant.

He opened Bocco Deli in the former Zoomdweebie's Tea Bar space at 3010 E. Central in November.

His new restaurant — if the deal comes together — would be in the former Sugar Sisters Bakery & Cafe space.

Sugar Sisters closed its 3-year-old restaurant in January.

There's no official word yet, but it sounds like Toubia might open a new concept — not another Bocco Deli — and a bar.

Look for news on a possible deal within a week or so.

No joke

At first we were kind of joking about the weekly yogurt report, but it looks like that's the reality.

Yes, there are another couple of yogurt franchises coming to town.

Hong's Landscape & Nursery owner Ilsik Hong and his brother, Jaesik , are opening a Peachwave Self Serve Frozen Yogurt at 2404 N. Maize Road.

That's across from NewMarket Square in the same building where AT&T and Frozen In Time, A Scrapbook Boutique are.

"I happen to know the people who (are) distributing this yogurt franchise," Ilsik Hong says.

His brother, who also works at the nursery, will own the yogurt business, but they'll both operate it.

"He wants to have a side business, so I'm working with him," Ilsik Hong says.

The nursery is on 31st Street South between Rock and Webb, which Hong says he realizes is a long way from the Peachwave that will be "way out west."

Once he and his brother get the business open, which should be early July, they'll leave it to high school and college kids to run, Hong says.

"This is a young (person's) business," he says.

Don Piros of Landmark Commercial Real Estate handled the deal.

Last month, Have You Heard? reported that Tammi and Scott Kuthan are opening a Peachwave next to their Doc Green's at the Waterfront . The Kuthans also plan a west-side Peachwave next year.

Hong isn't trying the yogurt business out of necessity. He says his nursery business is "fantastic."

"This year the retail and landscape both are better than the last year."

Hong and his brother are planning an east-side Peachwave next.

  Comments