A building housing Alert Traffic Control Inc. in Bayfield is scheduled for a foreclosure sale after the business defaulted on a loan by failing to make payments to the original lender.
According to a legal notice first published in The Durango Herald on Nov. 17, Lot 20 of the Bayfield Center subdivision, where Alert Traffic Control is located, was originally scheduled for a foreclosure sale Jan. 14 but has been pushed to Jan. 28.
The notice said Alert Traffic Control is the original grantor of a $1.95 million loan, and the beneficiary is Newtek Small Business Finance LLC. The outstanding principle balance as of Sept. 3 was $1,926,048, according to La Plata County’s foreclosure database.
Lot 20 of the Bayfield Center subdivision bears the address 543 Sower Drive, according to La Plata County’s foreclosure database. An internet search of the address showed Alert Traffic Control is located there.
Alert Traffic Control is a traffic control, safety and management business that was awarded honors in 2018 by the Colorado Department of Labor and Employment for its effectiveness in safety training and cost containment.
sedmondson@durangoherald.com
