The future of Sioux City’s Badgerow Building is still in question after a federal judge in California dismissed a bankruptcy petition filed by the building’s developer last week.
The judge granted Cedar Rapids Bank and Trust’s motion to dismiss the bankruptcy filing by Mako One Corporation of Carlsbad, California and managing partner Bruce DeBolt.
The bank filed for foreclosure on the Badgerow Building in April, saying Mako, DeBolt and two other limited liability companies defaulted on a $6 million bond agreement to renovate the building.
The bank claims it is owed more than $4.4 million.
Debolt hasn’t paid property taxes on the building for around two years.
Instead, an outside investment company, A-C-C LLC of Dubuque, Iowa has paid over $200-thousand dollars in back taxes.