Auction set for northern Idaho development

Published On: Sep 26 2012 07:45:58 AM PDT
POST FALLS, Idaho -

An auction has been set for Oct. 8 for a northern Idaho development project that has sputtered for more than a decade.

The Coeur d'Alene Press reports Post Falls Landing was once billed as the future anchor of the Post Falls city center. An auction was scheduled for last December, but it was canceled at the last minute when developer Harry Green filed Chapter 11 corporate bankruptcy. That bankruptcy case was dismissed earlier this month by U.S. District Judge Terry L. Myers, clearing the way for Liberty Bankers Life Insurance Company to proceed with foreclosure on the 33-acre site.

The auction notice states that more than $7.5 million is still owed on the loan for the property, along with another $1.6 million in interest and late charges.