Homestead President Buys Leelanau Hills Property
Oct. 9, 2012
The winning bid in a tax forfeiture auction of the ill-fated Leelanau Hills property, profiled in a recent Ticker story, was cast by Robert Kuras, president of The Homestead resort in Glen Arbor. The Leelanau Enterprise reports that Kuras' winning bid was $123,000. It includes an estimated 50 acres, including 92 building lots. The parcels are part of a 240-acre development that became the property of Leelanau County in April 2012 when the former owner failed to pay $159,000 in 2008 and 2009 property taxes. Because Kuras' property is part of a planned unit development, it would need to be developed according to the existing development agreement, or the agreement would need to be modified – a challenge because other portions of property within the development are owned by a handful of others, including individuals and a mortgage speculation firm, who would have to agree to changes.
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