115-121 West Third Street
The owner of the building that housed the former Jamestown Brewing Company is facing foreclosure.
In a filing in Chautauqua County State Supreme Court on Thursday, May 19, Evans Bank issued a complaint against G Patti Enterprises LLC, George Patti, and the Chautauqua County Industrial Development Agency for failure to pay the mortgage on the building located at 115-121 West Third Street.
GPatti Enterprices LLC has a $1.5 million mortgage with Evans Bank that was executed on July 27, 2018. The complaint said it was determined on September 15, 2021 that following several events that would be considered a loan default, Evans Bank demanded the full re-payment of the loan in the amount of $1,522,913.90.
The foreclosure filing in Supreme Court seeks to get that loan repaid.
Evans Bank previously filed a lawsuit against G Patti Enterprises LLC, on June 11, 2021 claiming misappropriation of funds connected to the Jamestown Brewing project. That case was closed following a payment on the loan in question.
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