All Quiet on the River (Landing) Front
No word on whether payment deadline will be met
Reported By Joe Hoover
Posted October 30, 2009 - 2:32pm
The clock is ticking on Lake Placid Developments.
A 5:00 deadline looms for the developer to pay the city of Sasktoon $4.5 million. Land has been set aside for Lake Placid to build an ambitious retail, hotel and condominium complex.
In August, City Council set a two-tiered deadline for Lake Placid.
The Developer met the first due date - paying over $200,000 in interest owed. The full $4.5 million is to be paid by the time city offices close Friday, or Lake Placid loses the land.
There's been no word from City Hall, Council, or Lake Placid.
The developer's sales trailer on the site was locked and empty early Friday afternoon.
Source
Yikes, that's not good....