From The Daily "A" - Bank Of Astoria To Foreclose On Taggart Building

By CASSANDRA PROFITA - he Daily Astorian

The Bank of Astoria is foreclosing on the Pier 1 building constructed by former Port of Astoria Commissioner Glenn Taggart and could soon put it up for sale.The bank is seeking the Port of Astoria's consent to the sale of the building, Port Interim Executive Director Ron Larsen told the Port Commission at a special meeting Tuesday.Since last year, the Port, which owns the land under the building and leases office and storage space inside, has been making lease payments to the bank, which assumed control of the building and its rent payments after Taggart's companies failed to repay nearly $2 million in loans.Taggart's company, Astoria Bay LLC, also owes the Port about $8,000 in unpaid bills.The Pier 1 building stirred controversy at the Port in 2006 when critics accused Taggart of misusing his position as commissioner to get the Port to lease space inside his building. Taggart resigned from the commission in September 2006. When Port Commissioner Larry Pfund raised questions about the building's safety when it was up for sale in April 2007, real estate agents involved in the sale said he scared off interested buyers......For Full Story Click On Main Title Of This Thread