Date Application Submitted to HUD: November 15, 2008
HUD Formula Allocation Funding: $2,144,000+
Date HUD Application Approved: 2009
Time To Commit HUD Funds: 18 Months
Eligible Geographic Areas: Citywide
PROGRAM ACTIVITIES
1) Property Acquisition/Rehabilitation/Resale: $1,496,096 (20 Vacant, Foreclosed Homes)
Households Earning 0% To 50% Of Median Family Income: $536.096
Households Earning Over 50% To 120% Of Median Family Income: $960,000
2) Residential Property Demoliton: $433,847 (54 Vacant, Dilapidated Homes)
3) Program Administration: $214,437 (Salaries, Fringe Benefits, Etc.)
4) Downtown Commercial Property Acquisition/Demolition: " NONE "
In reviewing information posted on the City's website, several questions arise including:
1) NSP-1 application DID NOT include Downtown Commercial Acquisition/Demolition;
2) original Jan-April 2010 Progress Report shows $100,000+/- purchase of 1300 block Central Avenue vacant, blighted church;'
3) new May-June 2010 Progress Report DELETES item #2 acquisition cost;
4) what other City funds utilized to purchase vacant, blighted storefront church (see item #2);
5) original NSP-1 application states TWENTY (20) vacant, foreclosed homes to be purchased, rehabilitated and resold;
6) May-June 2010 Progress Report reduces item #5 production from 20 vacant, foreclosed homes to only ELEVEN (11).
7) relative to item #6, how will funding for NINE (9) fewer vacant, foreclosed homes be spent,
8) maximum dollar amount to be spent acquiring any given house (Suggest $80,000).
9) immediately cease spending well over $120,000 to acquire vacant, foreclosed homes.
10) immediately cease spending well over $200,000 to acquire and rehab vacant, foreclosed homes.
11) maximum dollar amount to be spent on rehabilitating any given house (Suggest $30,000).
12) maximum limit on the total expenditure to acquire/rehabilitate any given house (Suggest $110,000).
13) maximum dollar value of loss (SUBSIDY) City will incur selling any given house (Suggest $15,000).
14) how eventually completed houses be marketed for sale (Suggest Middletown Board of REALTORS).
15) all Middletown Board of REALTORS members be allowed to sell distressed homes to the City.
16) only 30+ of the 54 vacant, dilapidated homes have been demolished.
17) what is timetable to complete the demolition activity.
18) how much additonal Program Administration expense will be incurred via (PROGRAM DELIVERY).
Original Jan-April 2010 Progress Report: Commercial Property Acquisition/Demolition ($280,000+)
1325 Central Ave 1329 Central Ave 810 Verity Pkwy 2818 Verity Pkwy
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