Pioneer Savings Bank is seeking to foreclose on commercial property located off of Route 146 in Clifton Park, N.Y., claiming that the owner owes the bank more than $1.9 million in mortgages and loans.
In a lawsuit filed in state Supreme Court in Saratoga County on Dec. 27, the bank details its plan to take action against Wayne Wagner, whom the lawsuit lists as a Scotia resident. According to the lawsuit, Wagner owes the bank $1,971,642 in mortgages and loans on his property at a complex known as 21st Century Park, located at 1315 Route 146.
The complex named in the suit is positioned back from the road off of Route 146, and consists of a mostly vacant field with only a handful of structures on the site. One is an unused warehouse, and the other is an Enterprise office building.
Northstar Church is also located toward the back of the property, but the church is not listed as a defendant in the lawsuit.
W.E.W Advisor Corp. is also named as a defendant in the case, and documents from Pioneer Bank contained in the lawsuit list Wagner as the president of that company.
According to the lawsuit, in June 2016, Wagner and W.E.W consolidated past loans on the property into a $1.9 million loan with Pioneer. Then, Wagner and W.E.W subsequently failed to pay the bank its monthly premium and interest on that loan from Aug. 1, 2017 to Dec. 1, 2017.
The failure to pay the bank comes after at least four previous loan consolidations, and at least four loans modifications from Pioneer dating back to 2010, the bank says.
An attorney listed for Pioneer Savings Bank did not respond to requests for comment.
Wagner could not be reached for comment, and a phone number listed for W.E.W Advisor Corp. is no longer in service.
Lisa Martini, spokesperson for Enterprise Holdings, said the Enterprise office on the site functions as an administration office for all of Enterprise Holding’s operations, including car rentals.
Martini added that while the company is currently working on moving the office to a new location, the move is not a response to the foreclosure. The Enterprise office will remain operational.
“We are currently in the process of working on a relocation of this office,” Martini said in an emailed statement.
Saratoga County does not have any unpaid taxes recorded for the property, according to the county Treasurer’s Office.
Likewise, Town Supervisor Phil Barrett said the town has not had any tax payment issues with the property. He said he wouldn’t know of a foreclosure on a private property until a bank took action.
Barrett doesn’t believe the foreclosure will ultimately have any sort of negative effect on the town, but added that it’s unfortunate to hear about such problems.
“We never like to hear of any property owner in Clifton Park having issues,” he said.
Tribune Content Agency