Shopping center developed by ex-governor faces foreclosure


A Henderson shopping center project that was developed by former Gov. Kenny Guinn and others will be foreclosed on April 7 by the Federal Deposit Insurance Corp. as receiver for failed Community Bank.

Community Bank made a $29 million loan for the Coronado Canyons center on the southeast corner of Green Valley Parkway and Horizon Ridge.

However, the former governor's son, Jeff Guinn, and other plaintiffs sued Community Bank over allegations that the bank broke an agreement to make a loan for tenant improvements, preventing them from leasing the center to retailers.

U.S. District Judge Philip Pro on Monday accepted an agreement between the plaintiffs and the FDIC to allow the FDIC to foreclose on the property. Claims made by Jeff Guinn and others remain pending, a source close to the case said.

 

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