Sullivan delinquent property-backed loan and November 25 cure deadline
Summary
The commission gave borrower Mr. Sullivan 90 days — until November 25, 2026 — to resolve a $2.8 million loan secured by real property. Commissioners refused to lend more or forgive debt, and warned that transferring the property to a new LLC would complicate enforcement and could itself be a default.
At a glance
- Total mentions
- 2
- Last 30 days
- 0
Last discussed Aug 24, 2026.
Impact analysis
A $2.8 million county loan balance is at risk if the borrower can't refinance or pay by November 25, 2026.
County taxpayers are protected by a firm deadline and marketable real-estate collateral if the borrower defaults.
The borrower faces potential loss of the property if he cannot resolve the balance within 90 days.
Mentions & discussions (1)
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