During November’s Clinton City Council meeting, City Manager Roger Houck told council that Magnet Mills was scheduled to close with the new developer last Friday.
Council agreed that if the sale did not go through, they would follow through with foreclosure proceedings on Monday.
According to the real estate agent representing the Huang family, the owners of Magnet Mills, the property did not close on Friday due to the new developer being out of town.
A closing date has not been set.
As of press time on Tuesday afternoon, the attorneys between the city and the Huang family are still discussing options.
The city could choose to begin foreclosure proceedings since the owners were late on an installment plan payment. Those payments are the result of years-long fines against the property for code violations.
The November payment has since been made, but the city could still choose to foreclose.
The Courier News will continue to follow this developing story.