Blue Lake Rancheria Left Holding the Bag: Owed $7 Million by Bankrupt Developer

“According to Nancy Pasternack at the Appeal-Democrat: The new operator of a once-successful motocross track in Marysville, California, has abandoned the facility, leaving the city empty-handed for the second time in a year. Todd H. Nelson of Loomis, California, signed a contract for the track known as Riverfront Park five months ago. ”

“Nelson had planned to build a $109 million motocross complex in Placer County near Thunder Valley Casino. But the project failed to materialize in the wake of the recession, and Nelson’s holdings are currently in Chapter 7 — liquidation — bankruptcy. Among his creditors is Blue Lake Rancheria, a tribe-owned economic development corporation in Humboldt County, to which he owes nearly $7 million.”

http://mx775.proboards.com/index.cgi?action=display&board=general&thread=8649&page=1#57068

Here is a link to the original article from March 1, 2011 which curiously does not show up in Google News search.

http://www.appeal-democrat.com/articles/nelson-104510-motocross-track.html

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