City starts foreclosure process against Newcomb owner
Fri, 19 Jul 2013 15:13:24 GMT —
The city of Quincy took the first step toward foreclosing on the Newcomb Hotel.
Documents filed July 11 in the Adams County Circuit Court involves a $500,000 in loans given to a Skokie, Illinois developer in 2003 by Quincy's Revolving Loan Committee.
The city says that Victor Horowitz owes the city $525,932 in principal and interest.
This is the second bout of legal action between the city and the hotel owner. The city is also suing over the state of the building which sustained a partial collapse during April storms.