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August 17, 2002Shaky finances not killing complexBy STACEY SMITHRecord-Eagle staff writer NORTHPORT - Even as a Minnesota bank continues to threaten foreclosure on the proposed Ennis Creek housing development, excavators are working to clear the site so construction on the 450-unit project can begin. Earlier this year, First Integrity Bank of Minnesota filed to foreclose on the 415-acre property, which includes the former Timber Shores Resort just south of Northport. A foreclosure hearing was delayed last month after the bank put the wrong property description on the published foreclosure notice. But bank officials say they are moving forward with a new foreclosure date of Sept. 24. Mary Williams, an attorney for the bank, said the bank simply wants its money. The developers of Ennis Creek, primarily Daniel Ketelaar of Northport, are behind in both loan payments and property taxes, Williams said. The bank does not want to own the property, she said. The county treasurer's office confirmed there are outstanding tax bills on some parcels of the property. Ketelaar said he is working to arrange different financing for the project and expects to pay off the bank before the foreclosure hearing. "We're sure before that happens we'll be able to provide the bridge financing to take out the bank," Ketelaar said. Cleanup at the site and clearing of some trees started Aug. 5, Ketelaar said. It is the first actual construction work at the site since Ketelaar purchased it in 1993. Ketelaar said the delay has been due to changes in plans for the property, which originally included a marina. The marina was opposed by the Grand Traverse Band of Ottawa and Chippewa Indians, which has fishing rights in that area, and the marina idea was scrapped. A second plan included a championship golf course and housing. The current plan calls for a variety of housing, including waterfront condos, single-family homes and "cluster" cottages, which would be a group of three to five cottages in a wooded setting, Ketelaar said. Ketelaar said he expects clearing and grading to take until the end of next summer. He said he hopes to begin selling housing units next spring. Actual construction will begin next fall. |
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