Orange County “credit dentist” Dr. Robert F. Beauchamp has stopped plans to lease most of Ventura Harbor’s financially troubled retail area, saying the price is too high.
Bank of America, the largest creditor of Ventura Harbor Village, says the 100-business center owes $10 million, which must be paid before another operator can take over. The previous operators declared bankruptcy in 1987.
Beauchamp Enterprises and the Ventura Port District have estimated the debt of the village at $6.5 million to $8 million. Beauchamp Enterprises, which operates two commercial marinas with 560 slips at Ventura Harbor and has assets estimated at $500 million, said it would reconsider if the bank lowered its demands.