No more chances for Watertown property owner delinquent on loan
WATERTOWN, N.Y. (WWNY) - No more chances. The Watertown Local Development Corporation has had enough of missed payments.
It all comes back to 223 JB Wise Place and owner Vina Bonner.
WLDC CEO Don Rutherford says Bonner will be 210 days delinquent on a loan come April.
According to Rutherford, local business developer Jake Johnson wants to buy the property and assume the loan, but Bonner hasn’t signed the purchase offer.
Now, WLDC will be sending Bonner a letter Rutherford says gives three options: sell the property; pay the loan, or be foreclosed upon.
“We talked about this at the board meeting. It’s like, how many chances do we give? So, we’ve made the decision that we’re not just going to accept payments being brought current. We want this ended one way or another,” said Rutherford.
Bonner says it feels like the city of Watertown and the WLDC are forcing her to sell and haven’t been supportive in keeping the building occupied and viable.
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