A FORMER DOWNTOWN SANTA CRUZ PROPERTY OWNER HAS REACHED A SETTLEMENT WITH THE CITY OF SANTA CRUZ, SANTA CRUZ COUNTY BANK, AND 2 FORMER DEVELOPERS. 79 YEAR-OLD RON LAU IS NOW SET TO RECEIVE 530 THOUSAND DOLLARS FOR THE 2 UNITS OF A CONDOMINIUM PROJECT HE WAS PROMISED.
LAU NEVER GOT THEM BECAUSE THE BUILDING WAS NEVER COMPLETED, DUE TO THE BOTTOM FALLING OUT OF THE REAL ESTATE MARKET IN 2008.
