County Gives Developers a Deadline
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The County Commission gave Crest Capital and Milmarson Development Corporation one week before the county moves on the foreclosure of an Oct. 8, 2004 mortgage worth $3.4 million. The mortgage was for the purchase and development of affordable housing units on a 18.3-acre site at 13400 Pine St. SW in unincorporated Largo and was funded through the State Housing Initiatives Partnership (SHIP). Crest and Milmarson never started work on the project, despite a number of extensions. If a foreclosure action is approved at the Tuesday, April 24 workshop meeting, the companies must pay the mortgage in full or deed the property back to the county.
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