GOSHEN TOWNSHIP, Ohio - Part of a once popular country music venue has a new owner.

The back 68 acres of the overgrown, run down, Ponderosa Park in Goshen Township sold for 700-thousand dollars to the Mortgage Holder which is Equity Management.

That amount is much higher than the 144-thousand appraised value.

Attorney Leo Puhalla, who represents the investment group out of Warren, would not reveal if they bought the property for mineral rights or if owners have plans for the property. Puhalla says the owners will evaluate all options and do what they think is best.

Attorney Gary Rosati with the Zuzolo law offices believes there is one current gas lease on that property, but says he can not speculate if the owners bought it for mineral rights.

Rosati says the county is not making any representations regarding mineral rights, but wanted to collect the back taxes.

Attorney Rosati explains the investment group that purchased the 68 acres holds the mortgage on the property and is owed millions of dollars, so the transfer in money will be largely on paper. But the court will receive costs associated with the sale and taxes owed since 1990.

Goshen Township Trustee Bob McCracken says this sale will definitely help the township and school district.

Records from Mahoning Auditor's Office show West Branch Schools will receive more than $45,000 dollars in back taxes, Goshen Township will receive more than $20,000 dollars. Mahoning County will receive about $21,000 dollars for Children Services and various agencies that are owed tax dollars. An additional 8 percent will benefit MCTCT, Mill Creek Park, and other entities owed money.

The most popular part of the park, that once hosted a variety of concerts for major country music stars and sits along Route 45, was taken off the auction list on Tuesday, but that 45 acres will be sold at auction in May.

The old auditorium, where the acts took place, is located on that portion of the property, but a 300 year old tree fell on the auditorium.

The Red Garter Saloon, which is now run down and damaged, and the historic pool area that is shaped like a guitar, are also on that section of the property. The sale of this land is expected to bring in more tax revenue that is owed.

Around 30 acres in the middle of Ponderosa Park, or the campground section, most likely won't be sold for another two years due to the liens, title problems, and legal issues.

Attorney Rosati says there are about seven six acre parcels of land that have about 700 people with deeds to each of the parcels. Rosati says taxes have not been paid on those parcels either. He explains that's why the county is foreclosing on the property.

Mahoning County hired Rosati to handle the sale due to the complexities of the case that has languished in bankruptcy court. Rosati says it was also difficult tracking down the former owner Joe Novelli.