The company that city officials say is buying the sports pavilion at Corridor Plaza failed to make eight payments in a timely manner and has not reported some other required financial data, according to a notice of forfeiture approved by the City Council.

In the opinion of city leaders, that company is MandM LLC, of Ankeny.

But last month, the Fort Dodge-based Better Way Project announced that it had ousted the Ankeny outfit and was now the owner and manager of the property. It put up signs naming the facility the BetterWay CourtPlex.

In a series of transactions last year, the City Council acquired the building for $10.1 million and then sold it back to MandM LLC, which was the original developer, for $12.1 million.

On May 27, just days after The Better Way Project announced it had taken over the pavilion, the City Council voted to issue a notice of forfeiture to MandM LLC.

That document serves as formal notice that the city believes the company has violated the terms of the contract under which it was buying the building. It also gives the company 30 days to come back into compliance.

The company failed to make its November, December, January, February, March, April, May and June payments on time, according to the notice of forfeiture.

The notice also states that the company failed to provide required monthly financial information to the city. The notice states that the financial information “has not been delivered for any month during the term, representing several repeated failures by buyer.”

The notice has Friday’s date on it. The company will have 30 days from its receipt of the notice to take action.

The sports pavilion is a 51,000 square foot building on the west side of Corridor Plaza, close to 25th Street. Controversy began to shadow it even when it was under construction.

MandM LLC, which has two similar facilities in Iowa, proposed the Fort Dodge version. Developers and local officials looking for something to draw people to Corridor Plaza embraced the plan.

But the company had trouble securing financing for the project.

City Council members said they didn’t want to see the project fail, and intervened. It was not a popular decision, and resulted in multiple public complaints during council meetings.

Despite the pushback, in January 2025 the council bought the building from 3 & 1 LLC, of Fort Dodge, for $10.1 million.

Then in April 2025, the council sold it back to MandM LLC for $12.1 million. The sale was structured so that payments from that company would pay off the debt the city incurred to buy it. According to the notice of forfeiture, those payments are not being made on time.