The Cyruses were put in touch with DGF by a series of brokers, according to
Keith. A broker in The Dalles knew a broker in Portland who put them in touch
with a broker in Dallas, Oregon. "It was a matter of finding someone who had
the money to loan and (for whom) the timing was right," said Keith Cyrus.
"It certainly made for a merry Christmas for us and all of our creditors," said
Matt Cyrus, a partner in KMB Enterprises with father Keith. Keith's other son
Brian is no longer a partner.
The two-year loan of $4.3 million will not only pay off J.C. Compton, owed $1.2
million in principal and interest for the sale of 1,000 acres on both side of
Camp Polk Road above Squaw Creek to the Cyruses in 1989, but also other
creditors and attorneys owed approximately $600,000.
This will leave the Cyruses approximately $2.5 million to complete the
project.
Keith said they hoped to begin cleaning up lots on Wednesday, and would
continue to work as long as the weather allowed.
KMB expects to have the first nine holes of the golf course seeded and
infrastructure in place for the first phase of 43 platted lots by June, Matt
Cyrus said.
