LOS ANGELES -- If special tax obligations in the Wildwood Estates subdivision are restructured, a developer may be willing to buy the troubled property, a recent Nevada County, Calif., press release said.
Problems with special tax delinquencies in the subdivision -- the county's Community Facilities District No. 1990-1 -- have resulted in two missed payments this year to holders of Mello-Roos bonds. The county failed to make a $307,017 payment due March 1 and a $206,090 payment due Sept. 1. The bonds are secured by special taxes on property in Wildwood Estates.