Unsold lots in what was the Riversedge Subdivision go on the auction block Thursday to settle past due taxes its developers owe in Halifax County.

The auction will be held on the steps of the Halifax County Courthouse at noon.

Its developers owe $400,000 in past due ad valorem taxes, Roanoke Rapids City Attorney Gilbert Chichester said Tuesday.

Chichester briefed council on the tax foreclosure during a closed session meeting Monday night. No action was taken afterward.

The developers of the subdivision bought 74 acres of land along Old Farm Road and subdivided it into two parts. Twenty-one lots have been sold.

Mayor Emery Doughtie said following the closed session the city is expected to receive some $200,000 of the taxes owed.

Meanwhile, Chichester said Tuesday the city has settled with the developers’ bond company and is expected to receive $115,000.

The bond settlement is related to the developers’ failure to complete the paving of streets within the subdivision as well as their failure to install streetlights and other infrastructure, the mayor said.