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OC Today-Dispatch APRIL 3, 2026
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BETHANY HOOPER/OC TODAY-DISPATCH
SINK HOLE REPAIRS A work crew from Chesapeake Utilities checks an underground line in preliminary work before the Ocean City Public Works Department digs in and fixes a cave-in on 49th Street and Coastal Highway Although the cause of the collapse has not been pinpointed, the leading theory is a leaking sewer main caused the problem. See story on Page 13.
Homeless camp Big bucks for Parking all meterless moved indoors local projects With removal of final two kiosks at the inlet Facing daily fines, St. parking lot, Ocean City goes all in on apps and smart phones to collect parking fees this spring and summer — PAGE 4
Regional Kennedy-Krieger Paul’s-by-the-Sea relents center, Diakonia get major and moves its homeless infinancial support. — PAGE 82 side church.— PAGE 6
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OC Today-Dispatch
APRIL 3, 2026
APRIL 3, 2026
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OC Today-Dispatch
Elias and partners sued by local bank for loan default By Brian Shane Staff Writer (April 3, 2026) Ocean City restaurateur Peter Elias and his partners in a 17th Street renovation project are facing a $3.5 million court-ordered judgment after defaulting on a commercial loan. The Bank of Ocean City is suing The Bistro and Lounge LLC as the borrower and Elias as its managing member. He is being sued both individually and under the LLC, which owns the Cowboy Coast restaurant property at 1706-1708 Philadelphia Ave. Court documents show the bank in November 2024 approved a $4.5 million loan at 7.25% interest, with the property listed as collateral. A payment history included in the court filing indicated the loan had monthly interest-only payments of $23,000. Filed Feb. 11, the lawsuit alleges as of Jan. 26 there was still $3.49 million owed on the note, including $3.4 million in unpaid principal and $98,138 in unpaid interest. As a result, the bank served a default notice and called back the loan. On March 8, Worcester County Circuit Court Judge Brian Shockley issued a judgment in the bank’s favor for $3.49 million. That notice was recorded as a confessed judgment, a legal term meaning the business admits to defaulting and may waive its right to a trial. For collections, the bank hired the
Baltimore law firm of Gebhardt & Smith LLP. In the lawsuit, the borrowers allegedly “continued to refuse” to make payments under the terms of the deal, wrote plaintiff’s attorney Richard DuBose III. When reached by phone this week, Elias said, “We’re working through that process right now,” but declined to comment further. Bank of Ocean City President Reid Tingle also had no comment. The bank’s lawsuit names four other individuals as defendants: Karamjeet Singh, Basel Ramadan, and his wife, Shereen Ramadan. Singh’s company Seven Star Hospitality of OC LLC is also named as a defendant. Singh, Elias, and Basel Ramadan contracted to buy the property in a lease-to-own deal. Seven Star Hospitality would be the lessee and the liquor license holder, according to meeting records of the Worcester County Board of License Commissioners. Elias and partners acquired the property – formerly the Paddock nightclub, a resort landmark dating to the 1950s – from Rosenblit Family LLC for $4.5 million, property records show. The site by 2014 had relaunched as Cowboy Coast, a country music-themed restaurant with live music and a mechanical bull. Elias is the proprietor of several upscale area restaurants, including See JUDGMENT Page 4
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Ocean City’s FY ‘27 spending projected to be $199 million
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By Bethany Hooper Associate Editor (April 3, 2026) Ocean City officials will begin their review of next year’s $199 million budget next week. The Ocean City Council will be meeting with department heads to review the proposed budget for fiscal year 2027. The draft spending plan for all funds totals $199,163,438, with the general fund making up $130,554,569. Officials next Tuesday are also expected to announce the new property tax rate, which is currently set at 44.26 cents per $100 of assessed value. This year’s constant yield tax rate, or the tax rate needed to produce the same revenue as the year before, is set at 40.02 cents. The proposed general fund budget projects real property tax revenues at $58.5 million, representing an increase of $4.6 million, and other tax revenues at $36.6 million, representing an increase of more than $5 mil-
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lion. The city also estimates revenues from licenses and permits to increase by more than $273,000 and revenues from services charges to decrease by $120,000. In the expense category, public safety will be the largest expenditure at $56.6 million, or $5.6 million more than the current budget. Expenses will also rise in all other categories, including economic developmenttourism, which has proposed expenditures of $16.2 million, and culture and recreation, with proposed expenditures of $10.6 million. The proposed budget is just a starting point for the Ocean City Council, which will throughout the week to finalize the spending plan. Work sessions will begin April 7 with a budget introduction, and continue Wednesday and Thursday with reviews of departmental budgets. A budget wrap-up is scheduled for next Friday. Fiscal year 2027 begins July 1 and runs through June 30, 2027.
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