SunCrest was auctioned off today. Three entities placed bids, but the judge refused two of them. Zions Bank offered $25 million for the property. They also agreed to pick up the tab (whether it's $12 million or $20 million) for infrastructure and other improvements to make the community comply with the master-development agreement.
http://www.sltrib.com/ci_9679676?IADID=Search-www.sltrib.com-www.sltrib.com
We are doing some digging and checking into specifically what this means for SunCrest Residents. We will have more solid information to share at Friday's meeting.
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