Aspen Lakes auction is off

The July 27 auction of the Aspen Lakes Golf Course and Lodge has been called off.

A source at Ball Janik, the law firm handling the foreclosure on the golf course and lodge property east of Sisters told The Nugget on Friday, "That is all the information that I have right now. It could be postponed for a week, or a month or a year. We never know until the issue is settled with the bank."

"That's more than I know," said Matt Cyrus when contacted this weekend as he was heading out of town for a few days to celebrate his birthday with family and friends. "I will be talking to the bank Monday. I should get more information then. As I told you before, there is not going to be an auction, whether by some agreement or some other legal maneuvering."

The Deschutes County Board of Commissioners meets Wednesday, July 14, at which time they will most likely vote on a revised amendment that would allow the Aspen Lakes properties to remain on the county resort map.

In an interview with The Nugget last week, Matt Cyrus indicated that, due to the investment in amenities that the family has already made, conversion of Aspen Lakes Golf Course and Lodge's current "cluster subdivision" designation to "destination resort" designation is critical to the viability of the business.

Even if the Aspen Lakes properties remain on the resort map, as reported earlier, the commissioners believe that it will take a change in state law for any cluster subdivision to convert to a destination resort. A special destination resort legislative sub-committee has been meeting in Salem to review Oregon's destination resort laws. Matt Cyrus is an "industry representative" on that committee.

When asked about the response to his open letter to the homeowners regarding Aspen Lakes' current financial woes, Cyrus said, "We have a lot of support from a lot of homeowners. It is surprising; we have a huge amount of support in the community and we appreciate it. I think business in the restaurant has picked up... since the last article."