Foreclosure of affordable housing on hold in fraud case involving Galena’s Bill Truax

The foreclosure of the Parkway 43 Townhomes in Garden City and Sky Ridge Apartments in Nampa will not move forward on Dec. 12 as originally planned. As BoiseDev previously reported, the properties are at the center of a lawsuit involving Galena Opportunity Fund President Bill Truax. The lawsuit filed against Truax says the developer used the two affordable housing properties as collateral on a loan that plaintiffs say he didn’t have the authority to use. The suit said the loan was to finance his company, Galena Opportunity Fund, which was facing mechanical liens on the Union 93 project in Meridian.

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