thedailytimes.com : Your 24/7 news source

Knoxville auctioneer Sam Furrow has initiated foreclosure proceedings on the Camp Montvale property.

Furrow is calling in the $3.4 million debt that Harmony Property Group owes for the purchase of the camp. He bought the debt in 2008.

The move does not threaten efforts by the Friends of Camp Montvale group to re-open the camp, according to Friends Executive Director Bryan Roberson: “Basically, we're still full steam head with the program. This is actually clearing up some of the underlying issues so that the camp can be secured and go into easements.”

The group plans some family events and community activities at the camp in 2010, following with a full return to services in 2011.

Furrow has been working to acquire the ownership interest in the property in order to place it in conservation easements, according to previous reports. The current owner of the camp, Harmony Property LLC, purchased the 400-acre-plus Camp Montvale property in December 2006, giving the Friends of Camp Montvale, a local nonprofit group, the chance to operate a youth camp on the site. The Harmony group spent $4 million to purchase the property, $3.4 million of the total financed by a promissory note to the YMCA itself.

In March 2008, the YMCA agreed to modify the terms of the promissory note to give Harmony more time to make payments. Furrow acquired the mortgage, funded through a Regions Bank loan, on Aug. 1, 2008.

Anyone with questions about Camp Montvale can contact Roberson at 865-235-4102 or through e-mail at info@ camp montvale .org.

Check back online for more details as the day progresses.

Camp Montvale is located off Montvale Road just past Six Mile Church, at the foot of Chilhowee Mountain.