October 9, 2012 in Idaho

North Idaho development auction canceled again

Associated Press
 

COEUR D’ALENE — The auction of a North Idaho development project that has sputtered for more than a decade has been canceled for a second time after the developer again filed for bankruptcy.

Harry Green’s development, Post Falls Landing, was once billed as the future anchor of Post Falls. Liberty Bankers Life Insurance Company is trying to foreclose, and the 33-acre property was originally set for auction in December.

The Coeur d’Alene Press reports that auction was staved off by a bankruptcy filing by Green, but the bankruptcy case was dismissed earlier this year and the auction was rescheduled for Monday.

Monday’s auction was also canceled after another last-minute filing by Green. The bank says there is still more than $7.5 million owed on the loan, plus another $1.6 million in interest.

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