Wells Fargo Bank has initiated foreclosure proceedings on properties in Rome, Calhoun and Lafayette owned by Rome Hosiery Mills LLC. The Rome property, 305 East Sixth Ave., serves as the physical plant for the News Publishing Company and the Rome News-Tribune.

Both buildings on the RN-T campus and parking lots at the rear of the buildings, facing Glen Milner Boulevard and East Eight Avenue are included in the foreclosure notice.

“This is not adversarial, and we don’t see the newspaper moving because we have leases in place,” said Burgett H. Mooney III, president of the News Publishing Company. “The leases are enforceable going forward.”

The notice lists a foreclosure sale set for Aug. 7 on the steps of the Floyd County Courthouse.

The property in Lafayette was at one time home to the Walker County Messenger, while the tract in Calhoun houses the Calhoun Times.

“In Lafayette, it’s just a building,” said Mooney. “We haven’t been there in years. The Calhoun Times just this past weekend revealed that it would be moving to a new location across the railroad tracks and down one block from it’s former location.”

Mooney said the foreclosure proceedings were very much related to the economy.

“The economy has certainly impacted the value of these properties,” Mooney said.

The Rome properties were at one time a hosiery mill and before that, a stove foundry.