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Tax Issues Prompting Sugar Loaf Sale

CEDAR, MI-A sale may be looming for a northern Michigan ski resort that has been closed to skiers since March 2000. A buyer hopes to close this month, and clear up unpaid property taxes.

By Dan Heaton | Updated on January 03, 2005

CEDAR, MI-With an impending tax foreclosure on Sugar Loaf Resort possibly looming, the owner of the closed ski resort is working to sell the property, possibly yet in this first quarter of 2005. The owner of Sugar Loaf Resort, located in Cedar in the Leelanau Peninsula near Traverse City, the Pacific XIX Corp. could lose ownership of the defunctski mecca to the State of Michigan unless 2002 property taxes are paid before March 31.

A “show cause” hearing is scheduled for Jan. 17 in Lansing and a judicial foreclosure hearing is scheduled for Feb. 7 in circuit court in Leland. “The tax law is certainly applying additional pressure on [Pacific XIX chief executive officer Roma] Polselli to sell the resort quickly,” says John Sills, a Birmingham attorney who is a former part owner of the resort. Sills has also had a legal and financial interest in a sewage treatment plant, two adjacent golf courses and other properties in the Sugar Loaf area that are currently up or sale as well.

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