Another blow is coming by way of the New Horizons Family Center. Its lender, Bank of the West, has scheduled a foreclosure sale for the end of the month — a move that likely will prevent Glendale from recouping $16,000 the city is owed by the now-defunct nonprofit.
The bank’s roughly $1.07 million foreclosure sale is set for May 24. But Glendale is so far down on the list of creditors that it probably won’t see a penny.
“Unfortunately, it appears there may not be anything left over for us,” said city spokesman Tom Lorenz.
The foreclosure announcement comes a few weeks after the city declined a proposal by PATH Ventures, a Los Angeles-based affordable housing developer, to purchase the vacant property on the 1200 block of South Maryland Avenue for $1.4 million.
New Horizons had planned to build a childcare center on the site near its mental health facility, spending federal housing funds allocated by the city for an expansion that never panned out.