Coronado Project facing foreclosure sale for nonpayment of loans - KCBD NewsChannel 11 Lubbock

Coronado Project facing foreclosure sale for nonpayment of loans

Residents were outraged over not having water (Source: KCBD Video) Residents were outraged over not having water (Source: KCBD Video)
LUBBOCK, TX (KCBD) -

The Coronado Project, the low-income housing project spearheaded by former councilman Frank Morrison, appears to be headed for a Trustee's Sale on the courthouse steps.

The document filed with the Lubbock County Clerk shows an original loan amount of $489,670 against the three tracts owned by Franklynn Enterprises, G.P., a non-profit controlled by Morrison and his wife, Lynn.

This is the second time that the lender, KCCC Properties, has made an attempt to collect on the note for the Coronado Project. Earlier this year an agreement was reached and Morrison agreed to make regular payments on the note. The lender tells KCBD that those payments have not been made.

Earlier this month, the water was shut off at the Coronado Project due to an unpaid $10,000 water bill. Service was restored after a day when Morrison was able to raise additional money from supporters.

The Trustee's Sale is scheduled to take place Tuesday, Nov. 1 at 1 p.m. at the Lubbock County Courthouse.

PDF: Coronado Apartments Foreclosure

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