The president of Garrison Development Company, Gary Hassenflu, who proposed a new apartment complex to Brentwood Planning and Zoning on Wednesday, recently settled out of court in $2 million bankruptcy case, the St. Louis Business Journal reported on Dec. 10.
In June 2015, the Business Journal reported that four creditors had filed an involuntary bankruptcy petition against Gary Hassenflu, seeking payment of a $2 million judgment that Hassenflu and three co-defendants were ordered to pay in January 2013 relating to a property near Kansas City, KS.
According to the complaint, the defendants failed to make timely payments on a bond loan (mortgage); failed to meet rental occupancy requirements; and withdrew partnership funds for nonpartnership purposes without authorization of the plaintiffs.
Read the full article in the St. Louis Business Journal. It is also reported in the Kansas City Business Journal.
Update: Chairman of planning and zoning, Mike Daming, responded to a request for a comment on Dec. 14. He said the financial wherewithal of a developer doesn’t fall under the purview of planning and zoning — only the land use. He said the board of aldermen could take it into consideration.
See also: Developer proposes apartment complex to Brentwood P&Z