A new, paying tenant at Keck City Center should help the building owner pay off debts, according to a bankruptcy reorganization plan.

Dan Stanbrough LC said in court documents that under a tentative lease effective Sept. 1, 2011, an occupant has been found to replace the Downtown School, which will move out of the property at 500 Grand Ave. on that date.

American Abstract & Title Co. would pay $150,000 in annual rent, enough money to meet bills owed to unsecured creditors and a portion of more than $500,000 in unpaid property taxes, according to the plan.

Dan Stanbrough LC is controlled by developer Daniel Stanbrough, who is the president of American Title Inc., the parent of American Abstract & Title Co.

Under the plan, filed Thursday in U.S. Bankruptcy Court for the Southern District of Iowa in Des Moines, Dan Stanbrough LC also plans to pay more than $5 million to Regions Bank for a mortgage on the building, nearly $670,000 to People’s Trust and Savings Bank for a mortgage on property in Clive and nearly $950,000 to Community Business Lenders for a mortgage on property in West Des Moines.

The reorganization plan also seeks to stop future tax sales for unpaid property taxes and to prevent a Red Oak limited partnership from redeeming more than $400,000 in delinquent taxes that it has purchased.

Regions Bank has asked to have the entire bankruptcy case dismissed, saying it was filed as a dodge to avoid a state court judgment against Dan Stanbrough LC for the Keck building mortgage.

The reorganization plan also seeks to void more than $400,000 in a specialized interest payment on the Regions loan.