Despite court rulings against his financial plans, developer Yehuda Netanel continues to try to salvage The Lake District, his $450 million project in Lakeland.

Earlier this week, Netanel and his The Lake District LLC filed a motion with the U.S. Bankruptcy Court asking permission to obtain financing to settle with lender TIG Romspen, which has $51 million in liens against the project.

The Lake District, a 160-acre mixed-use plan on the east side of Canada Road south of Interstate 40, was unveiled by Netanel in 2016. Since then, it has faced financial woes, unpaid contractors and promises to tenants that never materialized on the former site of the Belz Factory Outlet Mall.

The Lake District foreclosure sale set for April 30

In late February, U.S. Bankruptcy Judge Jennie D. Latta ruled against Netanel’s Chapter 11 reorganization plan, signaling what seemed to be the end for the developer after he failed to obtain the necessary financing.

But late last month, Lakeland Mayor Josh Roman announced he received news Netanel obtained a commitment letter from a potential lender and was working to recover his project.

If Netanel’s plan works, subcontractors and tenants would get the money owed to them, something that would not have happened with a foreclosure sale.

A hearing on the new motion is set for Tuesday, April 23, but Latta could rule before then.

“If the money’s actually there, then he’ll pay everybody off and retain the property and the court will dismiss the bankruptcy,” said Lakeland city attorney Will Patterson, who represented the city in the bankruptcy case.

Judge will post The Lake District for foreclosure this week

Earlier this month, a foreclosure sale on the property was set for April 30 on the steps of the Shelby County Courthouse.

“We are intending to proceed with the foreclosure sale unless we receive payment, an amount that the lender finds satisfactory,” said Kyle Hirsch, attorney for the lender, who also stressed: “Until there is an exchange of money, we’re proceeding as is if it’s not going to succeed.”

Netanel declined comment when contacted Wednesday.

Roman has been vocal about his opposition to Netanel getting reinvolved in the project.

“I can only see one positive from this possible outcome, and that’s the current small businesses that are owed millions from work performed or promises already made will get paid,” Roman said. “I wish there was a way to make (Netanel) disclose that people doing business with his project have a hard time getting paid so in the future businesses will request payment up front.”

Bankruptcy judge denies last-ditch Lake District plan

If Netanel is able to get the project back, he would still need a new development contact with the city. The previous one for the project expired in March.

Earlier this month, Roman said he would not support a new development contract for The Lake District if Netanel was involved.

“It’s more about making sure things are done properly, such as getting the (Tennessee Department of Environment and Conservation) issues resolved, road lighting, etc. that haven’t been fulfilled properly (and) less about Netanel as a person,” Roman said.