City threatens to force 24,000 foreclosure sales over unpaid bills 

Mayor Michael Bloomberg threatened to foreclose on 24,593 New York City properties if the owners don’t account for $470 million in unpaid property taxes and water bills. The New York Sun reported that property owners will be notified that they have 90 days to pay off the debt, ranging from $1,000 to millions of dollars. The commercial and residential properties are scattered throughout the five boroughs; one property on the Upper East Side is worth more than $10 million. The last time the city sent out similar warnings was in 2006, though only 6,640 property owners were notified that year.