Have you ever been robbed? Some robberies are violent and involve weapons or threats of force. Others are of a white-collar nature. Don’t be fooled, you are robbed either way. One robber let’s you know he is taking your money while the other is much more insidious and calculating. Our Redevelopment Agency is the latter.
Item 10 on this week’s council agenda deserves some attention.
According to the staff recommendation signed by Ramona Castaneda, for our illustrious Land Czar Rob Zur Schmiede and Charles Kovac, these fine public employees would like to sell a bond.
Read the rest of “Will Redevelopment Borrow $50 Million for Affordable Housing?”
We all know that the Redevelopment Agency is required to set aside its 20% for affordable housing and then spend the money per state law. Why not have the agency buy up vacant, bank-owned homes and then rent them out to low-income families? That way the house is mantained and lived in rather than allowed to sit vacant and become eyesore and attractive nuisance. Sounds like a win-win for everyone especially neighborhoods hit hard by foreclosures. I would be petrified of this $50 million gamble if I lived in Fullerton! For all the good redevelopment has created, it sure had to step on a lot of toes to achieve it.