HOMEOWNERSHIP PROMOTION IS A PRIORITY!!
ENCOURAGE MIDDLE-INCOME FAMILIES TO MOVE BACK!!
An E-mail From A Former City Employee Friend To Local Realtors
One of the last things that I did as a City employee before "RESIGNING??" was to verify the status CDBG and HOME Program funds this past January.
At that time there were $120,000+ in HOME Program funds available for first-time buyers. I was told then that nearly all of those funds were committed for loans that were to close reasonably soon. Now, it is almost June and senior Community Revitalization Department staff says that 15 loans of these pending DPA loans ($90,000) still have not closed? Something is confusing about all of this.
It's a compliment indirectly when both the "suddenly recently resigned" and interim CRD directors spoke/speak with pride about the 58 Down Payment Assistance loans closed last year. Neither one had anything at all with making this program a reality and changing program implementation policies. As we all know, only 4 to 5 DPA loans were closed annually before the former Consolidated Planning Committee and I made major changes. And, I was steadfast in making unspent HOME Program funds available in support of our partnership and helping younger, working families to move into empty foreclosed homes.
I am disappointed that far fewer HUD funds are allocated for new DPA purposes. And, despite CRD staff comments, City Council and the City Manager wish for $2.144 million HUD Neighborhood Stabilization Program funds to focus more on demolition than increased homeownership. They have said that at City Council meetings and in the Middletown Journal.
I know that I am patting myself on the back, but...............the truth is the truth.
Nelson Self
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