Wasting NSP Funds
Printed From: MiddletownUSA.com
Category: Middletown City Government
Forum Name: Community Revitalization
Forum Description: Middletown Community Revitalization News
URL: http://www.middletownusa.com/forum/forum_posts.asp?TID=3415
Printed Date: May 15 2024 at 8:38am
Topic: Wasting NSP Funds
Posted By: Nelson...Himself
Subject: Wasting NSP Funds
Date Posted: Oct 27 2010 at 11:28am
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It's..sad..how..NSP..funds..are..being..wasted..needlessly..on..costly..purchase/rehab/resale..projects!
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Replies:
Posted By: Nelson...Himself
Date Posted: Oct 27 2010 at 11:43am
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Posted By: Nelson...Himself
Date Posted: Oct 27 2010 at 11:54am
| Transparent and cost-effective government is desperately needed in Middletown. |
Posted By: Pacman
Date Posted: Oct 27 2010 at 2:15pm
Nelson, I have been under the weather lately so I have not been on here much. My observation just from looking at what you have posted above is that the target market in not individuals or families making 50% of AMI with these home purchases and rehabs, but rather the other end of the scale at 100-120% of AMI.
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Nelson...Himself wrote:
Instead, is the City planning on re-entering the residential mortgage financing business again like the ill-fated "FHA Dollar Homes" fiasco?? Posted By: Nelson...Himself
Date Posted: Oct 28 2010 at 3:56am
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My..question..is..how..$568,000+..of..NSP..funds..are..targeted..to..assist..four..low-income..purchasers!
Nine..low-income..purchase/rehab/resale..projects..were..noted..in..the..11/2009..NSP..grant..application!
Aren't..there..numerous..decently..located..vacant..foreclosed..home..projects..for..much..less..cost?
An..average..of..$142,000..per..low-income..project..is..another..example..of..waste..and..poor..planning!
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