O.C. Sues Developer Thompson, Claims Default
Real estate developer Kathryn G. Thompson was named a defendant in a lawsuit filed by Orange County on Wednesday alleging default on a $1-million development loan.
The loan, which was made to one of Thompson’s companies, Ameracor Laguna, was provided so the company could build affordable housing in Aliso Viejo, County Counsel Laurence M. Watson said.
The default happened in the early 1990s, but the county has had trouble tracking down Thompson, Watson said. She is believed to have moved to Tennessee, he said.
Thompson’s construction company was general partner for the housing project, and she created Ameracor Laguna as a limited partnership.
Watson said Thompson had given a personal guarantee on the loan, paid through the county’s Housing and Community Development.
Thompson, a prominent Republican, was once on the board of the county’s conservative Lincoln Club. She became one of the county’s high-profile defectors in 1992 when she crossed party lines and endorsed Bill Clinton for president.
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