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Wasting NSP Funds
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Nelson...Himself View Drop Down
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Joined: Sep 08 2010
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Points: 69 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Nelson...Himself Quote  Post ReplyReply Direct Link To This Post Topic: Wasting NSP Funds
    Posted: Oct 27 2010 at 11:28am
It's..sad..how..NSP..funds..are..being..wasted..needlessly..on..costly..purchase/rehab/resale..projects!
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Nelson...Himself View Drop Down
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Joined: Sep 08 2010
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Points: 69 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Nelson...Himself Quote  Post ReplyReply Direct Link To This Post Posted: Oct 27 2010 at 11:43am
Middletonians..deserve..accessible..and..honest...local..government.
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Nelson...Himself View Drop Down
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Joined: Sep 08 2010
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Points: 69 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Nelson...Himself Quote  Post ReplyReply Direct Link To This Post Posted: Oct 27 2010 at 11:54am
Transparent and cost-effective government is desperately needed in Middletown.
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Pacman View Drop Down
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Joined: Jun 02 2007
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Points: 2612 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Pacman Quote  Post ReplyReply Direct Link To This Post Posted: Oct 27 2010 at 2:15pm
Originally posted by Nelson...Himself Nelson...Himself wrote:

Absent enormous Community Revitalization Department subsidies, please explain how lower-income households (<=50% AMI) can possibly secure private mortgage financing to purchase these homes costing as much as $177,000+?? ConfusedConfused  Instead, is the City planning on re-entering the residential mortgage financing business again like the ill-fated "FHA Dollar Homes" fiasco?? ConfusedConfused
 
Nelson, I have been under the weather lately so I have not been on here much.  My observation just from looking at what you have posted above is that the target market in not individuals or families making 50% of AMI with these home purchases and rehabs, but rather the other end of the scale at 100-120% of AMI.
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Nelson...Himself View Drop Down
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Joined: Sep 08 2010
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Points: 69 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Nelson...Himself Quote  Post ReplyReply Direct Link To This Post Posted: Oct 28 2010 at 3:56am
My..question..is..how..$568,000+..of..NSP..funds..are..targeted..to..assist..four..low-income..purchasers!
 
Nine..low-income..purchase/rehab/resale..projects..were..noted..in..the..11/2009..NSP..grant..application!
 
Aren't..there..numerous..decently..located..vacant..foreclosed..home..projects..for..much..less..cost?
 
An..average..of..$142,000..per..low-income..project..is..another..example..of..waste..and..poor..planning!
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