The auction will be held at 10 a.m. central time at Bon SecourVillage's welcome center at 300 Waterway West Blvd. The land isfronts the Intercoastal Waterway and US Hwy. 59. Walter Driggerswith Tranzon Driggers in Ocala, FL, says 5% of the bid is requiredto participate. "If there are competing bids, we'll have abest-and-final auction at 11 a.m.," says Driggers, who is marketingthe property and who will oversee the auction.

According to an article in the Mobile Press-Register, US District JudgeKristi DuBose ordered the land sale so Atlanta-based developer BonSecour Village LLC could pay $20 million that it owes to WachoviaBank, just one of several banks that financed the project. Thearticle says the developers face lawsuits from others, includingRegions Bank, unpaid real estate agents, builders andlandscapers.

[IMGCAP(2)]"A welcome center has been built and the marina hasvertical pilings--just no walks on it," Driggers tells GlobeSt.com,adding "around the marina area there's room for retail, restaurantsand residential." He says a little farther north near Country Road4 that land has been set aside for a golf course. It is zonedmultifamily and commercial.