Dynamis Energy, LLC Lloyd Mahaffey, John Johnston, Stalled Garden Valley development hits new snag Eagle, Idaho

By CYNTHIA SEWELL cmsewell@idahostatesman.com

Developers missed the deadline to pay back-owed property taxes on much of their large residential development in Garden Valley. Now Boise County has seized and is preparing to sell more than half of the parcels in a tax-deed sale.  Two of Southforks developers Dynamis Energy CEO C. Lloyd Mahaffey, Dynamis Energy Senior Vice President John Johnston are part of a company that owes Ada County $2 million on a garbage gasifier project.  Southforks other partners are Erik Oaas and Steve Laney.  Boise County says Southfork owes $399,451.08 in property taxes for 2008 to 2011 for 115 parcels in the 868-acre residential development along the South Fork of the Payette River.  Less than 30 lots have been sold and the county has issued just five building permits for homes since the project was approved in 2006.  The company needed to pay the 2008 taxes and fees of $118,844.80 by July 23 to avoid the county taking the property.  On Friday, the county received $60,365.23 from Oaas Laney, LLC (Erik Oaas and Steve Laney) on behalf of Southfork Landing.

This amount covered the 2008 taxes and associated fees for 54 of the 115 parcels.  We took the other 61 parcels for tax-deed sale, Boise County Treasurer April Hutchings said Tuesday.  Boise County commissioners have not set a date for selling the properties.  By Idaho code, we have to sell them within 14 months, Hutchings said.  Mahaffey has told the Idaho Statesman he will not comment on the Southfork project.  Oaas declined to comment on Southforks future. He did say the Southfork partnership is still intact and he is aware Boise County has taken 61 parcels for tax-deed sale.

Dynamis Energy and Ada County have entered a 30-year agreement to build a $70 million garbage gasification plant capable of disposing of 408 tons of trash, tires and other solid waste daily.  Dynamis plans to start construction in September. To get a building permit, the company must repay the $2 million the county gave Dynamis in 2010 to design the plant.Delinquent property taxes arent Southforks only problem.  Southfork has been in default on its $24 million loan and its lender, California-based Mortgage Fund 08 LLC, owned by Walter Ng, was forced into involuntary Chapter 11 bankruptcy in September, according to court documents. The bankruptcy trustee for Mortgage Fund 08 refused to comment on the case.

Cynthia Sewell: 377-6428, Twitter: @CynthiaSewell

Read more here: http://www.idahostatesman.com/2012/07/25/2200924/stalled-garden-valley-development.html#storylink=cpy