MECHANICSBURG, Penn. – Members 1st FCU prevented a tax sale of the troubled Coliseum Entertainment Megaplex in Hampden Township last week by paying $102,000 in overdue property taxes on the property, according to county tax records.
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Members 1st assumed ownership of the troubled property after a Sept. 2 sheriff's sale. The credit union prompted the sheriff's sale by foreclosing on a $6.2 million mortgage with the former owner, the Coliseum Group.
No competing bids were made at the sale after the credit union announced it wanted at least $3.6 million for the property, so Members 1st acquired it.
The local entertainment complex is still operating and credit union officials said they plan to keep it open.
