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Apts Given To The Poor Now In Default

From the New York Post:

Giveaway apts. now tax duds

By DAVID SEIFMAN, City Hall Bureau Chief

June 14, 2010

Hundreds of buildings seized by the city for unpaid taxes and turned over to low-income tenants and nonprofit groups decades ago are now in default, leaving taxpayers on the hook for $100 million, according to city officials.

"It’s just a huge ongoing problem," Mark Page, the city’s budget director, conceded at a City Council hearing last week.

He said the city is in a bind because it doesn’t want the buildings back and hasn’t had much luck collecting from poor tenants with limited assets.

"In theory, we could take the building because they haven’t paid their taxes. But then what does that do for us?" he said. "It’s full of tenants and then what do you do?"

Eager to get out of the landlord business, the city in the late 1970s launched a program through its Housing Development Fund Corp. that gave non-profit groups the chance to take over foreclosed properties and allowed tenants to buy their apartments at giveaway prices, generally $250

$250 for a building in New York City, which has the most expensive real estate in the nation.

But rents and maintenance charges haven’t kept pace. Given a choice of paying taxes and sewer and water charges or maintaining their buildings, many tenants opted to stiff the city

Of 2,350 buildings in the program, 442 are in serious arrears of $3,000 or more per unit; 460 owe $500 to $2,999 per unit and 655 have modest debts of $1 to $500 per unit.

Obviously, the mistake comes in thinking that some people will pay anything for a place to live.

After all the former head of ACORN herself proclaimed that: “housing is a right.” — You don’t pay for rights.

And is there any doubt that ACORN was the foremost ‘non-profit’ organization that profited from this harebrained scheme.

This article was posted by Steve on Monday, June 14th, 2010. Comments are currently closed.

3 Responses to “Apts Given To The Poor Now In Default”

  1. proreason says:

    When will pornography be free?

    It isn’t publicized, but pornographers are probably second on the Dem donor list, right behind Wall Street.

    oh wait, it’s already free.

    my bad

  2. bill says:

    What’s there not to love about Soviet style living.

    My guess is they can’t quite figure out the “afford part” … Should talk to Obama’s auntie

  3. Liberals Demise says:

    Another proud moment brought to you by the man(?) who is gonna bring us all together.
    (under the hammer and sickle)


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