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City attorney: 8th Street foreclosure sale finalized; Garden Hotel litigation decision stands
Summary
The city attorney told the council a judicial sale for a foreclosed 8th Street property closed with a $42,063 bid to cover code-enforcement expenses; he also said the Garden Hotel defendants missed the deadline to appeal to the U.S. Supreme Court, leaving an $8,000,000 judgment in place and title to the property with the city.
At the Nov. 3 meeting the city attorney reported two significant legal developments affecting South Beloit.
He said a foreclosed property on 8th Street was sold at a judicial sale for $42,063, an amount that will cover city expenses tied to code enforcement; the proceeds will be deposited in the general fund and earmarked for…
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