Auction of Beaufort Commerce Park comes up short

Flickr user ibm4381
Dry, dusty, and done.

Update December 8: A month on and the deal to buy the park for at least $700,000 less than was owed is final.

Now the question remains, if and how the banks will try to recoup the funds from the county-back now defunct Lowcountry Economic Network.

Update November 8: A quarter of a year on, the auction has been had and the price tag has come under the $2.6 million owed by the defunct county-backed Lowcountry Economic Network.

The price bid was $2 million and there's a 30 day window for higher bids.

If that doesn't happen, look for possible rummaging by the lenders near Beaufort County's coffers to reclaim the lost dollars.

First reporting August 15: Surely two months weren't enough for you to forget the volumes written on the disbanded Lowcountry Economic Network and their crusade to save the Beaufort Commerce Park?

(If you are clueless here, head to our topic page.)

Well, much as expected, the commerce park foreclosure was sent before a judge and with no organization left to oppose the sale (and Beaufort County with no budgetary appetite to save the park) the judge quickly allowed the auction to proceed.

I'll point you to The Island Packet for a solid report (read it here.)

Now set you economic brouhaha watches for October 6 when the property is due to be sold, and should the price come up under $2.6 million or so, look for the banks to come hunting for dollars from the remnants of the network and possibly after the county's coffers. 

Worth noting is that there are some new grassroots efforts afoot looking at other ways to energize on economic workforce base.