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$530,000 SETTLEMENT - 12/18/13 22:43 S.S.

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.

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