Everyone agrees that the West Bank needs more
homeownership, we have less than 10% owner occupancy, with the majority of
the residents living at or below the poverty level. We all support
more homeownership, but it is coming at a very high price to the
taxpayers.
The City of Minneapolis is planning to "forgive" a
1.8 million dollar loan made to the West Bank Community Development Corporation
and it's various "acronyms" when (and if) they can manage to sell 19 units-some
single family and some duplexes to the long suffering occupants. The
owners (WBCDC, and other "partners" in cahoots with the non-profit- too
numerous to keep track of), paid little or nothing for these homes over 20 years
ago. Now they get to keep the profit on the sales, enjoy appreciation on
an asset they never paid for, get the lots for less than 7,000 (currently owner
by the City of Minneapolis) and we wonder why we have to lay-off police and fire
personnel.
Please let the City Council and Mayor Rybak know
that sometimes we have to say 'enough already' to the non-profits living off of
the taxpayers and the poor.
Barbara Murray
homeowner
Riverside Park/West Bank
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