Boca lingers as foreclosure avoided at HQ

Thought the Boca Grande Capital saga was over?

Boca principal Jim Connelly says, think again.

In the 11th hour before an in-rem foreclosure could be completed on Boca’s final building in Ripon — 303-305 Watson St. — Connelly paid off the minimum amount of back property tax and penalties to ensure the property isn’t sold off.

Through Town Bank, Connelly issued a check for $73,851.65 to the Fond du Lac County Treasurer July 20.

That came just one day before a judge would have had the opportunity to award the property to Fond du Lac County.

By waiting until July of this year to pay the 2013 taxes, he paid nearly double what he would have paid had he made the payment on time.

All told, those dollars went toward:

  • $39,499.06 for the 2013 taxes
  • $19,029.26 in interest for paying late
  • A $9,514.63 penalty for paying late
  • $5,733.70 toward Ripon’s downtown business improvement district, and
  • $75 for a fire inspection fee.

Read the full story in the Aug. 17, 2017 edition of the Ripon Commonwealth Press.

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