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Middletown's CDBG/HOME Loan Portfolio Questions

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Wasteful City Hall View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Wasteful City Hall Quote  Post ReplyReply Direct Link To This Post Topic: Middletown's CDBG/HOME Loan Portfolio Questions
    Posted: Mar 11 2011 at 1:54pm
"Interesting how these little HUD secrets are kept under wraps at city hall."
 
1}  In January of 2009 there was a $1,500,000+ portfolio of repayable Housing Rehabilitation loans;
2}  In January of 2009 there was a $500,000+ cash balance of repaid Housing Rehabilitation loan proceeds in a Fifth Third Bank revolving fund account;
3}  As per Skip Batten, former Planning Department staff, $500,000+ in delinquent Housing Rrehabilitation loans were written off in 2003 or 2004;
4}  As per Skip Batten, former Planning Department staff, $300,000+ in delinquent Housing Rehabilitation loans were written off in 2006;
5}  After Nelson Self's hiring in 2007, it was learned that city hall didn't have loan servicing policies and procedures for the Housing Rehabilitation or the First-Time Buyer Downpayment Loan Programs;
6}  As per #5, controls were developed in conjunction with the former HUD Consolidated Planning Committee to curtail this hemorraging of taxpayer's funds;
7}  From 2007to the present 100+/-  First-Time Buyer Downpayment Loans were made;
8}  At present have any of these loans been affected by foreclosure proceedings?  Is so, how many and what are the property addresses?
9}  How many repayable Housing Rehabilitation loans have been made by the city since early 2009?
10} How many of these have been foreclosed upon or are seriously in arrears payment-wise?
11}  What are the addresses and loan amounts involved?
12}  In addition, how many pre-2009 Housing Rehabilitation loans have been foreclosed upon or are seriously in arrears payment-wise in the last two years?
13}  What are the addresses and loan amounts involved?
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Mike_Presta Quote  Post ReplyReply Direct Link To This Post Posted: Mar 11 2011 at 5:00pm
On a related note:

1016 Gage Drive (Total purchase + rehab costs = $217,942.00) was recently (on March 07, 2011) sold by the City of Middletown for $170,000.00, according to information available at the Butler County Recorder's website.

“Mulligan said he ... doesn’t believe they necessarily make the return on investment necessary to keep funding them.” …The Middletown Journal, January 30, 2012
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Wasteful City Hall View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Wasteful City Hall Quote  Post ReplyReply Direct Link To This Post Posted: Mar 11 2011 at 6:00pm
Mike,
 
Those boys on the fourth floor of the Municipal Building are having so much fun "playing" with our hard-earned tax dollars!!!  It's like they're reliving days of their youth playing the famous board game Monopoly.  The only difference is that they purcrchased and rehabed Marvin Gardens, Atlantic Ave., etc. residential properties only to resell them for Baltic, Meditteranean Ave., etc. prices!!!!
 
It's disheartening that most City Council members turn their backs on many wasteful programs.  And, how wonderful it would be to make $90,000+ annually with fantastic fringe benefits frivolously squandering hard-earned tax dollars while "working" for the City of Middletown!!!!
 
Both you Mike and Miss Vivian have accurately forecasted this latest HUD boondoggle!!!
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Vivian Moon Quote  Post ReplyReply Direct Link To This Post Posted: Mar 12 2011 at 1:46am
  1016 Gage Dr
 
  Date Obligated Date Spent $ Allocated $ Spent Program Inc. Reason/Comment
  2/12/2010 2/22/2010 $128,700.00 $127,745.74 Purchase. $127,445.74 drawn from treasury & $300 from PI
  2/12/2010 2/18/2010 $425.00 Prepurchase Appraisal
  2/25/2010 2/25/2010 $386.10 Refund? Of City/tax stamps off HUD1
  2/12/2010 3/9/2010 $49.14 Water Bill - Paid from PI
  2/12/2010 3/24/2010 $97.29 Gas & Elec - Paid from PI
  2/12/2010 4/8/2010 $6.56 Water Bill
  2/12/2010 4/14/2010 $141.13 Prog Del for p/e 3/6/10. $3.84 paid from PI
  2/12/2010 4/30/2010 $86.86 Mowing Cost & Duke Bill
  2/12/2010 5/11/2010 $40.00 Mowing Costs
  2/12/2010 6/10/2010 $76.53 Mowing Costs & Duke Bill
  2/12/2010 6/23/2010 $37.70 Water Bill
  2/12/2010 6/23/2010 $29.99 Gas & Elec
  2/12/2010 6/23/2010 $40.00 Mowing Costs
  6/23/2010 $89,242.00 Obl of Bid & other costs
  6/23/2010 7/7/2010 $3,683.69 J&M Invoice & Wtr bill
  6/23/2010 7/20/2010 $9,707.40 J&M 7/15 Invoice
  6/23/2010 7/28/2010 $6,300.00 J&M 7/8 Invoice
  6/23/2010 8/3/2010 $75.70 Mowing Costs & Duke Bill
  6/23/2010 8/10/2010 $2,749.42 J&M 8/6 Invoice
  6/23/2010 8/19/2010 $1,021.78 Duke Bill & Prog Del
  6/23/2010 9/2/2010 $5,161.50 J&M 8/26 Invoice
  6/23/2010 9/2/2010 $37.70 Water Bill
  6/23/2010 9/16/2010 $1,175.33 Prog Del p/e 5/29-8/21
  6/23/2010 9/21/2010 $270.21 Prog Del p/e 9/4/10
  6/23/2010 9/21/2010 $114.47 Duke Bill
  6/23/2010 9/28/2010 $6,615.00 J&M Invoice dated 9/22/2010
  6/23/2010 10/5/2010 $37.70 Water Bill
  6/23/2010 11/4/2010 $3,645.00 J&M Invoice dated 10/29/10
  6/23/2010 11/4/2010 $60.00 Mowing Costs
  6/23/2010 11/4/2010 $66.93 Duke Bill
  6/23/2010 11/15/2010 $37.70 Water Bill
  6/23/2010 11/22/2010 $101.32 Duke Bill
  6/23/2010 12/8/2010 $37.70 Water Bill
  6/23/2010 12/22/2010 $9,351.00 J&M Invoice dated 12/8/10
  6/23/2010 12/22/2010 $6,372.00 J&M Invoice dated 12/8/10
  6/23/2010 12/22/2010 $5,951.00 J&M Retainer dated 12/8/10
  6/23/2010 1/12/2011 $74.70 Duke Energy
  6/23/2010 1/12/2011 $37.70 Water bill
  6/23/2010 1/12/2011 $1,039.47 Prog Del 9/18 thru 12/11/10
  6/23/2010 1/20/2011 $355.74 Duke Energy
  6/23/2010 1/26/2011 $1,850.00 J&M Invoice dated 1/19/11
  6/23/2010 1/28/2011 $325.51 Prog Del 12/25/10 to 1/22/11
             
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Mike_Presta Quote  Post ReplyReply Direct Link To This Post Posted: Mar 19 2011 at 4:33am
On a related note:

1103 Fourteenth Ave. (Total purchase + rehab costs = $97,831.00) was recently (on March 18, 2011) sold by the City of Middletown for $40,000.00, according to information available at the Butler County Recorder's website.

“Mulligan said he ... doesn’t believe they necessarily make the return on investment necessary to keep funding them.” …The Middletown Journal, January 30, 2012
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Post Options Post Options   Thanks (0) Thanks(0)   Quote TonyB Quote  Post ReplyReply Direct Link To This Post Posted: Mar 19 2011 at 9:59am
If I may be so bold as to offer a suggestion: Someone send these people to real estate school!!! If you've ever seen these real estate seminars advertised on TV, the first rule is: buy low, sell high! No one can make money in real estate buying high, sinking money into a property and selling LOW!!! Has anyone at this city building heard of Return On Investment (ROI)? You are not only using our tax money, you are using FEDERAL tax dollars; that means you're screwing everyone!!! This program nees to be shut down immediately and a federal prosecutor needs to take a serious look at this!!!
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Post Options Post Options   Thanks (0) Thanks(0)   Quote acclaro Quote  Post ReplyReply Direct Link To This Post Posted: Mar 19 2011 at 10:30am
For those who have not read the MJ this morning, as my wife insists on getting the weekend edition, as I don't even read it, the front page had a spread about Cincinnati State's excitement about downtown Middletown and a deal so deal, they'd be fools to pass on it (Chair- Business Technology). Middletown is becoming the non profit capital of Ohio. And what makdes Middletown so attractoive to Cincinnati State, other than masses of vacant land. Are they going to open a golf superintendant program to leverage Weatherwax?
 
I suggest the state Senators and Boehner be contacted. Just like the madman Obama and his gang thinking they took care of the bankig industry by their tough regulatiions after the bailout. You now have a situation you have few qualified buyers who must have a 720 credit score, while Strickland, Sherrod Brown(what a waste), and others, tout their success and championing the poor.
 
This is a prime example. Federal money, borrowed from your children and grandchildren, wasted on these types of projects. Where's the outrage? For what its worth, checkout the Riverbend development. 3-4 houses built in about 5 years, right across from that jewel of a school called Miller Ridge, while the development went bust. Check out the daVinci house, empty for 5 years, that was on the market for $499,000, now down to $299,000, and overpriced by about $100,000. Check out Ionna's house that was $419,000 now down to the bargain price of $285,000, which would sell for maybe $210,000. Drive up and down Central Avenue. No, with the lower stock being built in the Renaissance, drive beside Hunter school and see the Warrent Cty development with lots on houses coming on board, less than .25 mile from Fenwick.
 
Cincinnati State isn't getting just the buildings downtown, they are getting a while city, a brownfield of waste and depression costs, as houses are 50% of where they were a decade ago or more. A bright past, a brighter future? Only for public servants, and city leadership, as this deal with Cincinnati State deal is going through. And they are getting a whole city for the land lock they have in Cincinnati, while you have a generation awaiting the sell of your home.
 
Agree the plug needs to be pulled on this wasteful program.   
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Wasteful City Hall Quote  Post ReplyReply Direct Link To This Post Posted: Mar 19 2011 at 11:25am
Just think, the free-spending boys on the 4th floor of the municipal building have seven additional NSP purchased houses to lavishly redecorate!  At the current rate of losses per house, up to $500,000 of hard-earned taxpayer's dollars will be squandered by these fun-loving, "golden hair" boys whom Miss Gilleland holds in such high esteem!  What a city?
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Post Options Post Options   Thanks (0) Thanks(0)   Quote TonyB Quote  Post ReplyReply Direct Link To This Post Posted: Mar 19 2011 at 12:06pm
acclaro - as of this writing, those tough regulations on the banking industry have yet to be written!!! Not to mention that these kinds of programs were going on before Obama and his gang took office. It's not just Democrats or Republicans, it's both of them. They are, after all, the only game in town. Divide and conquor ought to be the rallying cry for both of these parties, because all they have done is drive wedges between people while they retain the power and laugh all the way to their reelection and eventual cushy government pension!!! Want to really change things? If you see a "D" or an "R" next to a candidate's name, REFUSE TO VOTE FOR THEM!!!
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Vivian Moon Quote  Post ReplyReply Direct Link To This Post Posted: Mar 19 2011 at 5:22pm
 
 



 
1103 Fourteenth Ave
 
  Date Obligated Date Spent $ Allocated $ Spent Program Inc. Reason/Comment
  7/7/2010 7/7/2010 $15,279.04 $15,279.04 Purchased 7-1-2010
  7/13/2010 7/13/2010 $445.00 $445.00   Prepurchase appraisal
    7/19/2010   -$445.00   Appraisal dd canx due to wrong amount.
  7/19/2010 $425.00 Prepurchase appraisal
  7/20/2010 $20.00 Buyer proceeds from purch
  8/4/2010 8/3/2010 $20.00 $40.00 Mowing Costs
  8/19/2010 8/19/2010 $282.97 $282.97 Prog Del p/e 7/10
  8/31/2010 $81,803.99 Obl of bid contract
  8/31/2010 9/16/2010 $1,040.70 Prog Del p/e 8/7-8/21 & RA
  8/31/2010 9/21/2010 $300.85 Prog Del p/e 9/4/10
  8/31/2010 9/21/2010 $3,100.00 FMS Invoice #12140
  8/31/2010 9/28/2010 $10,769.00 FMS Invoice #12150
  8/31/2010 10/11/2010 $127.06 Water Bill
  8/31/2010 10/18/2010 $11,505.00 FMS Invoice #12201
  8/31/2010 11/4/2010 $37.70 Water Bill
  8/31/2010 11/29/2010 $21,200.00 FMS Invoice #12215
  8/31/2010 11/30/2010 $102.44 Water Bill
  8/31/2010 12/8/2010 $15,296.00 FMS Invoice #12292
  8/31/2010 1/7/2011 $4,410.00 Final FMS Invoice. #12296
  8/31/2010 1/12/2011 $37.70 Water Bill
  8/31/2010 1/12/2011 $905.38 Prog Del 9/18 thru 12/11/10
  8/31/2010 1/20/2011 $253.55 Duke Utility Bill
  8/31/2010 1/28/2011 $447.46 Prog Del 12/25/10 to 1/22/11
 
 
  This does not seem to be a complete account of this property since more work was done after January 28, 2011
 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote TonyB Quote  Post ReplyReply Direct Link To This Post Posted: Mar 19 2011 at 5:52pm
acclaro - let me say something that I think I've written before. I don't necessarily mind our government spending money. However, when they do, they are obligated by the trust of the public, to be as efficient and effective as possible. My problem isn't the spending, it's the LOSING!!! This is the kind of program, managed PROPERLY!!!, that should be self-perpetuating. You should be able to buy properties at low cost and with rehab, make a profit on the resale. Then you can repeat the process. Houses in the city are maintained at a ONE TIME COST for the start-up. If this house on 14th was bought for $15 thousand, whoever approved $80 thousand dollars of rehab ought to be FIRED!!! If it needed that much rehab, it should have been torn down!!! Also, whoever approved the sale of this house for $40 thousand should also be FIRED!!! That is gross incompetance and if any of this $80 thousand rehab is fradulent, someone should be going to JAIL!!! I'd like to know who brokered this deal?
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Vivian Moon Quote  Post ReplyReply Direct Link To This Post Posted: Mar 19 2011 at 11:00pm

TonyB

You are sooo correct on every point.
This NSP program could have helped a great many people for numerous years if they had used the money wisely. This program should be overseen by someone with a construction background so the public could have gotten more bang for their buck.

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Post Options Post Options   Thanks (0) Thanks(0)   Quote Hermes Quote  Post ReplyReply Direct Link To This Post Posted: Mar 20 2011 at 2:19am
Might be interesting to find out WHO is doing the actual work or has been AWARDED the job of rehabing these houses and what the connection is if there is one to someone in city hall.
 
I agree with TonyB,someone should be headed to jail because this is not just ignorance it reaks of corruption.
No more democrats no more republicans,vote Constitution Party !!
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Post Options Post Options   Thanks (0) Thanks(0)   Quote TonyB Quote  Post ReplyReply Direct Link To This Post Posted: May 10 2011 at 10:30am
I bring this issue up again after reading the article that Middletown will be getting more NSP grant money from the Federal government. After the appalling guidelines for this program were made public at the April 19th city council presentation by Mr. Atkins, there needs to be some serious inquiry into how this new money will be spent. IMO, if the Federal HUD guidelines are to lose $75k per house rehabbed, then we need to tell HUD that we will spend the money as we see fit for the greatest ROI and benefit of our community. This should also mean that energy efficiency should come first instead of cosmetic appearance. I wonder whether there will be a public discussion on how this money will be spent or if the plan will be "secret" until after the plan and the money has already been wasted. I also found amusing the one comment on the story was from a real estate agency saying how wonderful this program is. While providing good housing for low and middle income citizens is a noble idea, it makes no sense to put someone in a house that will be too expensive to maintain. That's why the first dollars spent should be on energy efficiency, not paint or siding!!!
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