Sheriff sale set for June 4 on foreclosed hotel property

The Environmental Court meeting held on April 15, 2025, in Shreveport focused on the ongoing foreclosure and potential demolition of a property currently in dispute. The discussion centered around a property that has been in foreclosure, with the bank holding the mortgage but not owning the property outright.

Mr. Shelton, a representative involved in the case, reported that a sheriff's sale was held earlier in the month, but there were no bidders. As a result, the sale has been rescheduled for June 4, 2025. During this upcoming sale, potential buyers, including the bank, will have the opportunity to bid on the property. If the bank purchases the property, they would assume the responsibilities of the owner, including any necessary demolition.

Shelton provided an estimate for the cost of demolishing the property, which was approximately $546,655, significantly lower than an earlier estimate of around one million dollars. He suggested that the city should consider postponing any demolition actions until after the sheriff's sale to avoid unnecessary expenditures. If the bank acquires the property, they are likely to handle the demolition themselves.

The court acknowledged Shelton's recommendations and the implications of the upcoming sale, indicating a cautious approach to the situation. The next steps will depend on the outcome of the sheriff's sale on June 4, which could determine the future of the property and its demolition.