On 7-8-22 the company Cedar Corners Management, LLC of American Fork, Utah filed for Chapter 7 Bankruptcy. Cedar Corners Management, LLC is the developer that is listed in the Master Development Agreement for the currently under construction development of Sunset Flats
On January 16th, 2018 Eagle Mountain signed a Master Development Agreement with Cedar Corners Management, LLC for the development of the Sunset Flats development. The Project consists of approximately 237.54 acres of land. The development was vested (or promised) 384 lots. Those include 59 Tier I lots, and 325 Tier II lots, with an overall density of 1.89 units/acre.
The development is located East of Pony Express Parkway and North of Bobby Wren Blvd. It extends up to Lake Mountain Road and then continues East past Lake Mountain Road.
According to documents filed with the Bankruptcy Court there were three Petitioning Creditors. They included: Construction Materials Co of Provo for $359,250.62; Jacobson Excavation of Elk Ridge Utah for $1,900,000.00 (1.9 Million); and Ralph Smith Co of West Bountiful Utah for $147,380.00. The total owed to the petitioning creditors totals $2,406,630.62 (2.4 Million).
Additional Resources
To learn more about Chapter 7 Bankruptcy and what it really means, you can visit the website provided by the US Courts. https://www.uscourts.gov/services-forms/bankruptcy/bankruptcy-basics/chapter-7-bankruptcy-basics
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