Boardwalk Enterprises receives notice of default on unpaid loan
The city of East Grand Forks is one step closer to getting payments on a 510,000 dollar unpaid loan.
Boardwalk Enterprises received a notice of default this week. City Administrator David Murphy says the notice officially begins the loan collection legal process. Boardwalk received the city loan in 1999. Annual payments of 30,000 dollars were supposed to begin in 2003 but never came. Murphy says the notice is the first step in a lawsuit. Boardwalk has 60 days to respond.
Dan Stauss, the brother of East Grand Forks Mayor Lynn Stauss has been listed as a partner in Boardwalk. Mayor Stauss says he did not know about the loan and is not involved with Boardwalk Enterprises.