It will be difficult to collect, but the city council has approved a resolution to collect over $5000 in unpaid skywalk fees from the company that owns the downtown Badgerow Building.
California based Mako One Corporation is delinquent for $5,582 in skywalk charges from March of 2017 through March of 2018.
If the charges aren’t paid by May 7th, the city will start charging annual interest of eight percent.
Back in January, a federal judge granted a Cedar Rapids’ bank’s request to foreclose on the Badgerow Building, enabling it to sell the structure to the highest bidder.
That sale has yet to take place.
The Cedar Rapids Bank and Trust filed for foreclosure on the Badgerow Building last April, saying Mako One and managing partner Bruce DeBolt defaulted on a $6 million bond agreement to renovate the building.
The bank claims it is owed more than $4.4 million.