Local News

Kruse Foundation Issues Statement, Debt Paid Off

AUBURN, Ind. (AP) – A foundation in northeast Indiana that runs military and automotive museums in Auburn says it has paid off a $2.9 million debt owed to a LaGrange bank.

The Journal Gazette reports the Dean V. Kruse Foundation issued a statement Friday saying that it had paid off a debt it owed to Farmers State Bank of LaGrange. DeKalb Superior Court Judge Monte Brown awarded the judgment to the bank in July 2012.

The foundation operates the National Military History Center and the Kruse Automotive and Carriage Museum. The foundation had spent the money on constructing a building meant for the Andy Granatelli Racing Museum and Hall of Fame, but plans for that museum broke down.

The foundation is looking for a buyer or tenant for the Granatelli building.

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