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“A RENT REVENUE STREAM EQUAL TO 1.3 ANNUAL DEBT SERVICE COVERAGE” Is There A Direct Connection Between MDN Development's Grand Traverse Academy Expansion & Steven Ingersoll's Line Of Credit Debt? With GTA Lease Payments Pegged At 130% Of MDN Development's Mortgage Loan, You Bet There Is!

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In early March 2014, Steven Ingersoll set into motion a plan that, if it had succeeded, would have allowed him to maintain control of the Grand Traverse Academy, build a long-desired expansion at the school and pay off the massive business debt he owed Traverse City State Bank (TCSB).




Coming later today, “The Seat-Filler”, the conclusion of a two-part series. Read the first installment at this link.

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