Dyer Mountain sale delayed
February 24, 2008
Owners of a proposed Lassen County ski resort have once again stalled foreclosure sale, pushing the date to April 8.
Dyer Mountain Associates wants to build 4,000 homes, three golf courses, and a ski resort on about 7,000 acres of land near Lake Almanor.
Financial troubles led the lender, California Mortgage and Realty, to issue a foreclosure sale notice originally slated for Feb. 4 to recoup nearly $16 million in debt, but developers pushed the deadline back repeatedly.
“The mortgage company would get the property ” and the lawsuit,” said Steve Robinson, president and executive officer of Mountain Meadows Conservancy, which is part of the suit against the development. “It’s kind of the white elephant. I think they would be happy if Dyer came up with the money.”
But Robinson said he doesn’t think the property owners will pull together the necessary funds.
“We’ve waited seven years,” Robinson said. “We can wait another seven weeks.”
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