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Senator Theatre auction cancelled
posted by
Michael Zoldessy
on
April 15, 2009 at 7:40 am
BALTIMORE, MD — New developments in the future of the Senator Theatre.
But the city’s plans to purchase that debt, unveiled April 12, kept it from auction. Mayor Sheila Dixon is slated to take the city’s recommendation to the Board of Estimates for approval within the next month.
“The auction was cancelled because the City has agreed to buy the note from First Mariner Bank,” said Baltimore City Deputy Mayor Andrew Frank in an e-mail response Tuesday. Frank said after the city purchases the debt, it will foreclose on the theater and schedule a new auction.
Read more at the Baltimore Business Journal.
Comments (1)
The 1st Mariner auction is indeed canceled, however, as part of Baltimore City’s plan they will also hold a public foreclosure auction!
View link
The difference?
Instead of a $350,000 reserve, the city’s auction reserve will be $950,000.