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Lien holders file intent to pay off defaulted note attached to downtown Aspen building

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Carolyn Sackariason
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  At least two local groups have their sights set on an infamous building in downtown Aspen that went into foreclosure last month. Aspen Public Radio’s Carolyn Sackariason reports.

Local architect Charles Cunniffe, a related company, and an Aspen-based law firm, have taken the first steps in securing ownership of the commercial spaces in what’s known as the Ute building.

The other firm that filed what’s known as an “intent to redeem” with the Pitkin County Treasurer’s Office is Oates, Knezevich, Gardenswartz, Kelly & Morrow, PC. Both companies have liens on the property. So does developer Mark Hunt who says he is filing paperwork as well.

Syd Tofany with the treasurer’s office explains what the move means.

“They intend to bring forth money and pay out the certificate holder, because this one went to sale and because there were no other bidding entities, it went back to the original foreclosing party, that being Alpine Bank,” she says.

She says after today’s deadline, she’ll be able to determine who is the senior lien holder. They will get first dibs on paying the $5.58 million promissory note that the building owners defaulted on.

Carolyn Sackariason, Aspen Public Radio News.