July 16, 2014 Edition

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Forecolosure underway on store

Megan Heyl
Staff Writer

The city of Hoxie has decided to continue with the foreclosure of the property at 700 Southwest Texas Street, formerly Wayne's Hometown Market, after owner Wayne Black was no longer able to make payments.

During the city council meeting on July 8, Attorney Lance Owens explained that the lawsuit had been put on hold as long as Black was making payments.

Black informed the city that it was no longer possible for him to make payments and to proceed as seen fit, according to Alderman Sherry Moore.

In addition to the property, the foreclosure will also apply to the equipment in the store purchased with a reuse loan from the city and a second mortgage on Black's house.

The locks have been changed at the property and any liens on the property are being evaluated.

Over $500,000 is still owed on the property and Owens informed the council there would be a large balance due after the foreclosure and sale of the property.

The property will be put up for public auction after foreclosure. Owens said the city will have a credit in the amount owed on the loan and can bid up to that amount on the property and take over ownership.

Also at the meeting, John Holt madea complaint about the noise made at the Combs Motor Speedway located behind his property. Holt said that he is able to live with it if nothing can be done but inquired about permits and zoning regulations.

Mayor Lanny Tinker said what the city can do depends on whether it's classified as a hobby or a business. Speedway owner Tyler Combs has hosted a couple of charity events at the property but most of the time the speedway is free to the public.

"I'm proud that Tyler has been able to do that," said Holt. "It shows ambition, but I don't really like it in my backyard."

The city will investigate further but as of now, nothing has been found to be against zoning ordinances.

In other business, Chamber Chair Fran Cavenaugh presented her plan for economic growth in the area to prepare for Peco Foods. She focused particularly on affordable housing for employees of the new business. She said the Chamber would offer any help they could for future growth.

"We need to capture this opportunity for economic growth, for our residents and perhaps for getting new residents," Cavenaugh said.

She also spoke to the council about scheduling a service day in Hoxie and said she was open to any suggestions as to what needs to be done.

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