MidFirst exaggerating Red Feather lot values

Lorenz T. "Marty" Martensen

Dear Editor,

Today’s May 14 full-page ad in the GSPI says “Just the Facts” from MidFirst Bank of Oklahoma City, Okla., regarding its Red Feather Ridge project.

Lester B. Colodny originally owned Four Mile Ranch. He planned to sell 57 2-acre lots. But, he couldn’t pay MidFirst Bank the borrowed money so MidFirst foreclosed and became the owner of Colodny’s 57 lots. He couldn’t sell the lots. If he could have sold them he obviously would have sold them.

Lester forgot to ask MidFirst Bank what the lots were worth. Because in this morning’s GSPI ad MidFirst’s “Just the Facts” tells us that what were Colodny’s 57 Four Mile Ranch lots would be sold for hundreds of thousands of dollars each.

As an observation, depending on the ranch management, some ranches generate a lot of fertilizer.

If the writer is very lucky today, the morning’s mail might contain another similarly factual direct mail piece. Again I will look for the names of the Citizens for Responsible Growth.

Lorenz T. “Marty” Martensen

Glenwood Springs

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