Page 4 June 15, 2011
The Newscaster/Nature Coast News
Court Rules on Yankeetown Marina
Remembering the past
Suit, But Who Won?
By Newscaster Editor Tom Russell
After more than five years of litigation over a contract dispute between Ed Oes-
terle, owner of Yankeetown Marina and Izaak Walton Investors, LLC, (IWI) a developer
that was seeking to purchase the marina as part of its proposed redevelop of the Yankeetown
waterfront the final verdict was read in Levy County Circuit Court last Wednesday that left
many observers in the courtroom confused. The verdict might be termed a "draw".
IWI had executed a contract to purchase the marina from Oesterle on May 16,
2005. Following months of wrangling over certain documents not produced by Oesterle,
the contract did not close as originally scheduled on September 30, 2005. IWI filed suit
against Oesterle on March 27, 2006 for Breach of Contract and Damages (IWI sought
monetary damages from Oesterle for his failure to abide by the terms of the contract);
Claim for Defamation (Sherwood Partners, LLC, a member of IWI, made a counter-claim
against Oesterle for writing articles and posting derogatory comments about Sherwood (on-
line). Due to the 60% drop in land values in Yankeetown, IWI withdrew three other counts,
asking the court to rule on its claim of breach of contract and defamation. The jury found
that both parties had breached the contract, although in the confusion they were not exactly
sure when or how.
Judge Joe Smith had come out of retirement to preside over the three day trial,
probably one of the longest legal proceedings in Levy County history. By the end of
the second day, it was the Judge demanding a “side bar” and everybody knew he had had
enough. He cleared the courtroom and said, ‘I’ve been sitting up here (as a Judge) most
of my life and so I know a little about what s goes on, but today , “I feel like I am in la la
land”. ‘I don t have the faintest idea what you guys (the attorneys) are talking about or
where you are going with this. I can tell you this, if I don t know what s going on, I can
assure you that the Jury certainly doesn’t’.
By the second day of testimony the jury had pretty much lost interest. As the trial
labored on, some jury members could be seen whispering and joking amongst themselves
while others struggled to remain awake. When asked who won? Mr. Sherwood commented,
“I don t believe either Mr. Oesterle or I would claim victory here today. But if you ask me
who lost, I would tell you, the Town of Yankeetown lost big time at the hands of so called
Hometown Democracy”.
This is an aerial view of the Dunnellon Camp Phosphate Company dam and hydroelectric plant
The jury finally ruled the two parties split the $50 thousand dollar deposit plus
that was built on the Withlacoochee River with a permit from the Secretary of War issued in
interest which was approximately $14 thousand additional over the six years. The deposit
1904. This dam formed the reservoir known today as Lake Rousseau. In 1909 Camp Phos-
was held in escrow by a Palm Harbor company.
phate sold the property and dam to Florida Power. The permit required a lock to be built but
Coastal
Hair Port
due to cost Florida Power did not complete the lock until the mid 20’s. Fear of the dam’s
failure during the hurricane season Florida Power removed the upper portion of the lock to
at Plaza 40
allow water to escape and was not put back into operation until the late 30’s. The facility
Carting
ceased to produce power in 1965 and was replaced with the modern main spillway of today.
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