MMC Inc., the contractor that has been building the foundations, filed suit in Clark County District Court late Monday to collect on $1.1 million in unpaid bills by foreclosing on the project. All told, eight companies that have worked on Skyvue have filed liens for their work, including general contractor Ledcor Construction Inc. for $3.3 million, according to county records.
Skyvue developer Howard Bulloch said through a spokeswoman that his company is close to obtaining another loan from Shotgun Creek Investments that would cover all the accrued debt as early as today. The size of the loan was not disclosed, however.
Shotgun Creek, headed by prominent Seattle businessman and part-owner of the Seattle Mariners Wayne Perry, injected at least $9.5 million into Skyvue last year through different transactions, helping to pay off a mortgage when the project faced foreclosure in February. http://www.lvrj.com/news/skyvue-s-financial-troubles-mount-187065001.html
This project had a lot of people excited but right now, we have a huge 500 foot base for the Ferris Wheel.
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