(Genaro Molina / Los Angeles Times)
The receivership overseeing the welfare of 1,500 tenants in Skid Row is verging on insolvency, unable to borrow money and piling up $1.7 million in unpaid bills.The financial circumstances have become so dire that Mark Adams, the receiver in charge of 29 properties owned by Skid Row Housing Trust, is asking for emergency action from a Los Angeles County Superior Court judge, or else he said he'll have to cancel security contracts, lay off his staff and surrender the effort.
The receivership overseeing the welfare of 1,500 tenants in Skid Row is verging on insolvency, unable to borrow money and piling up $1.7 million in unpaid bills.The financial circumstances have become so dire that Mark Adams, the receiver in charge of 29 properties owned by Skid Row Housing Trust, is asking for emergency action from a Los Angeles County Superior Court judge, or else he said he'll have to cancel security contracts, lay off his staff and surrender the effort.
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