SV prepares to foreclose on Target site

The site of the proposed Target superstore in Scotts Valley will face foreclosure on July 1 if land owner Title Two Investment Corp. does not pay more than $310,100 it owes the city in back property taxes.
Scotts Valley city attorney Kirsten Powell recommended in a report to the city council that the council authorize city staff to pursue foreclosure on July 1 — the day after the fiscal year ends — until Title Two pays the delinquent tax or enters into an agreement to pay the balance.
This is not the first time the La Madrona Drive property has faced foreclosure.
The city nearly began the foreclosure process in April, but Title Two, at that time paid, $174,400 it owed from April 2008 which delayed the process. The company is currently delinquent on both its December 2008 and April 2009 payments.
If Title Two pays the tax before the July 1 council meeting, the item will be taken off the council’s agenda.
Read the full story in the July 3 issue of the Press-Banner.