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ST. PAUL, MN – The assets of a once-prominent economic development group in a poor St. Paul neighborhood are being liquidated after the group filed for bankruptcy. The Frogtown Action Alliance focused on economic development in the Thomas-Dale area, but its financial troubles were uncovered in August when St. Paul City officials requested an audit to account for $518,000 in city funds. Former financial partners, Reiling Construction, University National Bank and Liberty State Bank, are suing the alliance for $300,000. The alliance had $1.215 million in assets and $1.238 million in liabilities, according to bankruptcy records.

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