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submitted its paperwork Mondayh withthe ’s Middle District of Florida. The lead by Charles M. Sasser Jr., offered 224 unites in the first phase of the projecy located just off Cortez and Clinton boulevards in Units there started at according tothe property’s Web site. Hernando Beach has a pair of constructiomn loans on the property that it stilpowes $3 million, although one loan wher e $1.7 million is owed to in Zephyrhills, is according to court documents. Two othet loans are to in Brooksvillewherd $1.3 million is still owed. Much of Hernando Beac h Inc.’s unsecured claims are to subcontractors rangingfrom $8,0090 to $39,000.
The developer owes more than $409,000 to its largestf unsecured creditors, although nearly $275,000 of it is Hernando County property records show only one sale atSouthern Pines, a $202,100 purchase made in March 2008. Hernando Beach Inc. listws the value of its propertyy thereat $6.77 million. A creditorsa meeting is scheduled for July 2at 1:30 p.m. at the 501 E. Polk St. courthousre in Tampa.
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