Day: October 18, 2012

By JASON COX Of the Keizertimes Two prime parcels at Keizer Station set to be auctioned to the highest bidder to cover costs associated with an anticipated bond default won’t be placed on the block after all. City officials announced late Monday afternoon that Chuck Sides paid a total of $627,009.25 to make current payments on taxpayer-financed local improvement district bond debt. The properties, which are adjacent to Interstate 5 along Keizer Station Boulevard, were to be auctioned on the steps of the Marion County Courthouse at 10 a.m. Tuesday morning. On the two parcels, City Attorney Shannon Johnson said payments were made current, but the debt was not paid off completely. “He had to bring them current before the foreclosure sale,” Johnson said. “That means he paid the past due payments, all...

By JASON COX Of the Keizertimes While developer Chuck Sides paid up his local improvement district assessment just in time to avoid a foreclosure auction Tuesday, he left a third behind – one that the county assessor’s office considers to be worth nothing. The 1.47 acre parcel was purchased by the Keizer Urban Renewal Agency for $602,169 to cover a principal amount of $510,888. The city of Keizer financed bonds that it is ultimately responsible for, regardless of whether the property owners pay the assessments. How taxpayers may ultimately recoup those funds is yet to be determined. City Manager Chris Eppley said the long run plan was to market the property and sell it to the highest bidder. “We’ll start by contacting those property owners who adjoin the parcel to see if any of them have interest,” he said. The Marion County Assessor’s Office does not levy taxes on the property due to power lines that render the property virtually...