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Some intriguing questions for certain senior City staff members about the Purchase-Rehab-Resale component of the $2.144 million HUD Neighborhood Stabilization Program - Round One grant:
1) What about the alternative Plan prepared by a former City division head that would help reclaim SEVENTY (70) rather than the 20 vacant, foreclosed homes for new owner-occupancy?
2) Is it true that his plan, prepared in late October 2008 and never presented to the public, WOULD NOT DIRECTLY INVOLVE THE CITY in the process of acquiring and maintaining homes for resale such as the one prepared by an out-of-state consultant for Ginger Smith?
3) Wasn't the majority of the last City Council opposed to the City of Middletown being ONCE AGAIN DIRECTLY INVOLVED IN THE REAL ESTATE BUSINESS like the infamous FHA Dollar Homes fiasco?
4) Is there potential for any one local business to benefit handsomely via the City's acquisition of 20 vacant, foreclosed homes?
5) Where will most (if not all) of the 20 vacant, foreclosed homes be located?
6) As was allegedly stated by a senior City staff member, will as much as $75,000 be doled out for project subsidy for any house aquired/rehabilitated/resold?
7) Is there a plan available that multiplies the public benefit while minimizing the City's liability and expenditure of Federal funds?
A detailed summary of my plan were forwarded to the last City Council plus candidates Joshua Laubach and A.J. Smith. A comparative summary was also posted on this blog. And, it was determined consistent with HUD program rules and regulations by their Headquarters NSP staff! And, my plan was endorsed by local real estate professionals, target area neighborhood residents and mortgage bankers who were sent packing as members of the now-defunct HUD Consolidated Planning Committee. They agreed that my plan provided the City with the BEST RETURN ON INVESTMENT of HUD funds!! Sadly, it didn't see the light of day thanks to Ginger Smith and Miss Judy!
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