Oliva's Hercules Home Up for Public Auction

Former City Manager Nelson Oliva's Nautical Cove home is scheduled to be sold at public auction on October 24, public records show.

A notice of default filed with the Contra Costa County Recorder's office on July 1 says he is $28,500 behind in his mortgage payments.  This is the second time the mortgage has gone into default, and public records report the total unpaid balance of the mortgage as $ $708,000.

Oliva received an interest-free $250,000 relocation loan from the city when he moved his family from Southern California to Hercules in 2007.  His employment agreement required that the loan be paid back at the time of his termination. Oliva resigned under pressure from residents and city staff in January. His package included an extension on his loan until 2016.

Interim Deputy City Manager Liz Warmerdam said the terms of the relocation loan were not tied to the mortgage, and the city does not have a deed of trust against the property. Oliva will have until 2016 to repay his relocation loan regardless of his mortgage default, Warmerdam said.

The house is scheduled for auction at 1:30 p.m. at 725 Court Street in Martinez. For more information on the sale, call (619) 590-1221.