Mid-America Bank has started foreclosure procedures on a downtown Lawrence landmark.

Rob Phillips, who owns the Eldridge Hotel, has confirmed his mortgage holder has issued a foreclosure notice. But Phillips says it would take at least three years before the bank could claim the deed.

Phillips says he is still making payments to the bank and the hotel will continue to operate as usual.

But he also took the opportunity to say, “good things are happening.”

He declined to explain what those big plans were. But he said he was negotiating with several individuals, including city officials.

For more on this story, see the 6News report at 10 p.m. and pick up a copy of Friday’s Journal-World.