Florida Space Camp faces foreclosure
Posted: Fri, Sep 6, 2002, 7:35 AM ET (1135 GMT)
The US Space Camp facility near Kennedy Space Center in Florida will be foreclosed and auctioned off later this month, officials said this week. SouthTrust Bank of Alabama, which guaranteed over $10 million in bonds for Space Camp projects, plans to auction the facility, which includes the US Astronaut Hall of Fame, on September 18 if a buyer is not found before then. The Space Camp Foundation, which operates the facility, fell behind on debt payments as revenues dropped off because of fewer visitors. There are several entities reportedly interested in purchasing the Space Camp center, including Delaware North, which operates the Kennedy Space Center visitor's center, but no deals have been reached. A similar Space Camp facility in California closed early this year.
The US Space Camp facility near Kennedy Space Center in Florida will be foreclosed and auctioned off later this month, officials said this week. SouthTrust Bank of Alabama, which guaranteed over $10 million in bonds for Space Camp projects, plans to auction the facility, which includes the US Astronaut Hall of Fame, on September 18 if a buyer is not found before then. The Space Camp Foundation, which operates the facility, fell behind on debt payments as revenues dropped off because of fewer visitors. There are several entities reportedly interested in purchasing the Space Camp center, including Delaware North, which operates the Kennedy Space Center visitor's center, but no deals have been reached. A similar Space Camp facility in California closed early this year.
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