THE FORMER OWNER OF A DOWNTOWN SANTA CRUZ PROPERTY IS NOW SUING THE CITY OF SANTA CRUZ, FORMER DEVELOPERS OF THE STILL VACANT PACIFIC AVENUE LOT, AND A LOCAL BANK. 1547 PACIFIC AVENUE HAS BEEN VACANT SINCE THE 1989 LOMA PRIETA EARTHQUAKE. RON LAU SAYS THAT BACK IN 2005 HE WAS PROMISED (AS PART OF HIS AGREEMENT TO SELL THE PROPERTY TO THE DEVELOPER) THAT EITHER HE WOULD OWN 2 CONDOS IN THE PROPOSED NEW BUILDING; OR HE WOULD BE PAID 700 THOUSAND DOLLARS IF THE BUILDING WAS NEVER BUILT.
