The Sequoyah Hills/Oak Knoll Neighborhood Association (totaling 4500 homeowners) filed claims in New York Bankruptcy Court this week looking damages related to lost funds that were to back the redevelopment of the old Oak Knoll Naval Hospital. One month after Lehman declared bankruptcy last September, the developer stopped preparing the buildings for demolition. Then, in July, city inspectors tagged the city and imminent fire hazard.
The Association is looking for $15 million for clean up and another $100 million in nuisance and negligence damages.
Source: San Francisco Chronicle