Oswego Council OKs Legal Action Against Delinquent Borrowers
The Port City will soon begin legal action regarding four borrowers that have overdue Community Development Office loans. City Attorney Kevin Caraccioli said it would be nice to see voluntary compliance on the foursome’s part. Going to court to recoup the unpaid funds could take months, he admits. The group owes approximately $160,000 overall. Initiating legal action against the four certainly sends a message out to others that the city of Oswego is serious about collecting money that it’s owed, he said.