Friday, August 5, 2011

Deal sells Habersham County property, chips away at personal debt

Posted By on Fri, Aug 5, 2011 at 9:43 AM

A California man has agreed to purchase the failed Habersham County sporting goods store that helped land Gov. Nathan Deal in debt up to his eyeballs. Reports Aaron Gould Sheinin:

[Deal accountant Jimmy Allen] said the profit from the sale will lower Deal's overall debt to about $600,000, down from more than $2.4 million last year. The governor's private residence in Hall County is also for sale for just under $1 million, and Allen said Deal and his wife, Sandra, have about $800,000 in equity in the home, more than enough to wipe out the remaining debt.

Allen said the buyer, Steve Diamond of Santa Maria, Calif., is putting $150,000 down and will pay off the remaining $600,000 over 10 years. Deal is financing the sale, meaning Diamond will make payments directly to the governor, an arrangement Allen said the governor's bank approved. Diamond has not contributed to Deal's campaign or to other Georgia candidates, according to state records. [...]

"It’s a good situation," Allen said. "It’s not anybody who was a donor to his campaign or in any way related. Finally got it worked out. It’s been a real long process. It’s an outside party not related to anybody in Georgia."

We asked Deal's spokesman late last night if the Steve Diamond who purchased the property is the same Steve Diamond of Santa Maria, Calif., who, according to our secret source named "Google Stallone," owns an adult video store chain and sued a California city in 2003 after it tried to block his plans for a new location.

I know — you're kind of hoping they're one and the same, no? And how's your morning been?

UPDATE, 12:24 p.m.: There is only one Steve Diamond, baby, and he's coming to Georgia.

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