Faded S. Ind. mall heading to the auction block

Faded S. Ind. mall heading to the auction block

Faded S. Ind. mall heading to the auction block

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by Associated Press

WHAS11.com

Posted on January 12, 2014 at 10:59 PM

CLARKSVILLE, Ind. (AP) -- A deteriorating retail property that's long been a southern Indiana eyesore is headed to the auction block amid hopes it can attract bidders eager to redevelop the site.
 
Clarksville Town Attorney Chris Sturgeon says the U.S. Marshals Service will auction the town's former Peddlers Mall during a March 6 sale in Jeffersonville.
 
Sturgeon tells The Courier-Journal of Louisville, Ky., (http://cjky.it/1dfbfvL ) the town hopes a developer buys the deteriorating building and its pot-filled parking lot and overhauls it.
 
A federal judge has ordered that proceeds from the sale of the 10.6-acre property initially go to Green Mountain Financial Fund LLC. A Florida woman who defaulted on a mortgage she'd held on the site has been ordered to pay Green Mountain more than $2 million in principal, interest and attorney fees.
 

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