Wednesday, July 25, 2012

Boise County takes Parcels from Southfork Landing

Unpaid taxes force Boise County to take more than half of Southfork Landing’s parcels.

Developers missed the deadline to pay back-owed property taxes on much of their large residential development in Garden Valley.
Now Boise County has seized and is preparing to sell more than half of the parcels in a tax-deed sale.
 
Two of Southfork’s developers — Dynamis Energy CEO C. Lloyd Mahaffey, Dynamis Energy Senior Vice President John Johnston — are part of a company that owes Ada County $2 million on a garbage gasifier project.Southfork’s other partners are Erik Oaas and Steve Laney.
 
Boise County says Southfork owes $399,451.08 in property taxes for 2008 to 2011 for 115 parcels in the 868-acre residential development along the South Fork of the Payette River.
 
Less than 30 lots have been sold and the county has issued just five building permits for homes since the project was approved in 2006.
The company needed to pay the 2008 taxes and fees totaling about $183,000 by July 23 to avoid the county taking the property.
 
On Friday, the county received $60,365.23 from Oaas, which covered the 2008 taxes and associated fees for 54 of the 115 parcels.
“We took the other 61 parcels for tax-deed sale,” Boise County Treasurer April Hutchings said Tuesday.
 
Boise County commissioners have not set a date for selling the properties.“By Idaho code, we have to sell them within 14 months,” Hutchings said.
 
Mahaffey has told the Idaho Statesman he will not comment on the Southfork project.
 
Oaas declined to comment on Southfork’s future. He did say the Southfork partnership is still intact and he is aware Boise County has taken 61 parcels for tax-deed sale.
 
Dynamis Energy and Ada County have entered a 30-year agreement to build a $70 million garbage gasification plant capable of disposing of 408 tons of trash, tires and other solid waste daily.
Dynamis plans to start construction in September. To get a building permit, the company must repay the $2 million the county gave Dynamis in 2010 to design the plant.
 
Delinquent property taxes aren’t Southfork’s only problem. Southfork has been in default on its $24 million loan and its lender, California-based Mortgage Fund 08 LLC, owned by Walter Ng, was forced into involuntary Chapter 11 bankruptcy in September, according to court documents. The bankruptcy trustee for Mortgage Fund 08 refused to comment on the case.
 
Cynthia Sewell: 377-6428, Twitter: @CynthiaSewell

6 comments:

  1. It's about time!

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  2. Great. Now the school board will probably run some swindle about selling the old school to their cronies with the mining company and ask us how to use the money - a misdirection tactic with law suits facing them, property tax defaults, etc.

    Another Ward train wreck.

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  3. 7:32 - time to put your crack pipe down.

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  4. Finally read this week's paper. The story of the school was interesting. Looks like another Ward train wreck. LOL!!

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  5. Well Erik Oaas "what comes around goes around"...it's called "THE LAW OF ATTRACTION"...when you try and take something or control something that doesn't belong to you...the universe has a way of stepping in and "making thing equitable". First you lose your million dollar home to foreclosure, lose your company, lose respect...that's a lot of loss in a short period of time. Once a weasel always a weasel...Karma is taking care of you nicely :)

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  6. Anyone who was at the zoning meetings knows what a joke they were. You still getting your roads plowed for free Fred????

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