Jeff Pelline's Sierra Foothills Report

A real estate subsidiary of Newmont Mine closed escrow on the appromimate 740-acre North Star parcel in Grass Valley this week, sources said.

The price is about $2.3 million or $2.4 million, the sources said.

Newmont previously had announced a court settlement with Grass Valley to build a wastewater treatment plant to handle runoff from one of the company’s old mines.

A foreclosure sale on the Grass Valley/North Star LLC property, origanally planned as a housing development, has been postponed for years, according to Citizens Bank.

Developer Sandy Sanderson’s North Star/Grass Valley LLC filed Chapter 11 bankruptcy in 2008.

What will Newmont do? spin off part of the property?

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This is a new exhibit at Legoland:

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“Democrats and Republicans may not be able to get together on a deal to raise the debt ceiling, but there’s one thing lawmakers in both parties seem able to agree on: They need cash,” according to Politico.

“As Washington and Wall Street scramble to avoid default, a credit downgrade and economic chaos, lawmakers and interest groups — everyone from fiscal conservatives like Rand Paul to House Democrats like Martin Heinrich and party committees — have tried to capitalize on the debt crisis to fill their campaign coffers and help their like-minded allies.

“The fundraising pitches also point to the larger problem infecting Washington — the tone of the messages are sharply partisan, and campaign donors often don’t want their lawmakers to compromise, a dynamic that plays into the stalemate facing Congress as it tries to avoid an economy-shaking default next week.

“No phony deals,” wrote Paul, a tea party favorite.

“Deals are being cut or discussed nearly every day in Washington. Deals that will bring us more debt and economic destruction. Deals that abdicate congressional authority over spending and debt,” the Kentucky Republican wrote in a missive on behalf of the Campaign for Liberty.”

The rest of the article is here.

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