AUBURN, Ind. (Indiana’s NewsCenter) – It's a lawsuit that had the community of Auburn concerned about the future of its cherished, historical museums, but an agreement between Farmers State Bank of LaGrange and the Dean V. Kruse Foundation Thursday will allow them to stay open.
The museums include the National Military History Center (WWII Victory Center), the Automotive and Carriage Museum, and a 22,500 sq. ft. building formally known as the Andy Granatelli Hall of Fame.
The Kruse foundation will auction off Granatelli building and items within the Victory Center as pay-off to Farmers State Bank.
In July, the bank sued the foundation for $2.9M for defaulting on a loan. A judge ordered Kruse to sell the Victory Center and Automotive Museum, Granatelli building, and surrounding 300 acres to make up the loan in a sheriff’s sale.
With the recent agreement, the foundation will be able to make up the debt in a matter of months and keep the museum doors open.
The Kruse Foundation plans to auction-off the Granatelli building Labor Day weekend during the Fall Auto Auction. The building has never even been used, and is projected to auction for a good price. The Foundation is also considering making the inventory auction an annual fundraising event for the Victory Center.
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