Federal Tax Dollars

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   Questions: 

1)  Since the city has basically been declared a poverty zone, with 54% of the population living is it below the median income, is it illegal to buy these homes?

2)  Is it wise to continue to buy houses in "the Hood" as someone called it when we have 2000-3000 waiting to be torn down?

3)  What is the failure rate of the houses "in the Hood" that have been bought previously, how many are in foreclosure or been taken back by the city or however it works?

4)  Are not people that can afford the above houses more likely to be able to make the payments?  

5)  Why were the above houses purchased?

I have more questions but that will suffice for now.  I do not know the answers to the above questions does anyone, especially those making accusations?

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Pacman Members Profile Send Private Message Find Members Posts Add to Buddy List Prominent MUSA Citizen Joined: Jun 02 2007 Status: Offline Points: 2612	Post Options Post Reply Quote Pacman Report Post Thanks(0) Quote Reply Posted: Oct 10 2010 at 9:45am
	Questions: 1) Since the city has basically been declared a poverty zone, with 54% of the population living is it below the median income, is it illegal to buy these homes? 2) Is it wise to continue to buy houses in "the Hood" as someone called it when we have 2000-3000 waiting to be torn down? 3) What is the failure rate of the houses "in the Hood" that have been bought previously, how many are in foreclosure or been taken back by the city or however it works? 4) Are not people that can afford the above houses more likely to be able to make the payments? 5) Why were the above houses purchased? I have more questions but that will suffice for now. I do not know the answers to the above questions does anyone, especially those making accusations?

Nelson...Himself Members Profile Send Private Message Find Members Posts Add to Buddy List MUSA Resident Joined: Sep 08 2010 Status: Offline Points: 69	Post Options Post Reply Quote Nelson...Himself Report Post Thanks(0) Quote Reply Posted: Oct 10 2010 at 9:14am
	Hermes, Excellent..questions..to..ask..the..Prosecutor.

Hermes Members Profile Send Private Message Find Members Posts Add to Buddy List Prominent MUSA Citizen Joined: May 19 2009 Location: Middletown Status: Offline Points: 1637	Post Options Post Reply Quote Hermes Report Post Thanks(0) Quote Reply Posted: Oct 10 2010 at 9:09am
	Why are they spending money on $100,000 homes ?? I thought that money was to be spent "in the hood" on $40,000 homes ?? (e.g.) Whats next ? $500,000 homes ??
	No more democrats no more republicans,vote Constitution Party !!

Nelson...Himself Members Profile Send Private Message Find Members Posts Add to Buddy List MUSA Resident Joined: Sep 08 2010 Status: Offline Points: 69	Post Options Post Reply Quote Nelson...Himself Report Post Thanks(0) Quote Reply Posted: Oct 09 2010 at 10:44pm
	In 11/2008 the City submitted a $2,144,000 grant application to HUD. These "Stimulus Funds" are known as Neighborhood Stabilization Program - Round One (NSP-1) . Our tax dollars are to be utilized to assist state/local governments in addressing home foreclosure issues. On the City's website is the latest Progress Report by the Community Revitalization Department. Through 9/30/2010 it notes that nearly $1,018,000 of funds have been spent. This amount is less than 50% of HUD funds allocated to the City of Middletown. More interesting are the costs of acquiring and redecorating the following foreclosed homes for later resale: 2605 Elmo -- $149,000+ 1016 Gage -- $217,000+ 2210 Arlington -- $129,000+ 221 Harrison -- $136,000+ 1018 Yankee Road -- $149,000+ 2100 Tytus -- $142,000+ 915 Malvern -- $177,000+ 100 Red Bud -- $148,000+ 3523 Jewell -- $144,000+ 1103 Fourteenth -- $97,000+ Judging from this City sponsored real estate activity it leads one to believe that property values here are escalating. Does the Community Revitalization Department posess otherwise unknown housing market data than the private sector? In Middletown surely it's possible to purchase/rehab decent and affordable vacant/foreclosed homes for under $90,000? Noteworthy is City spending and/or committing funds since March 2010 to avoid potential HUD sanctions? The source of NSP funding is our Federal tax dollars. We deserve sound stewardship from City staff!