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Demo loan to Schenectady has strings attached

‘Off the wall’ HUD requirements may cut number of projects

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Knocking down blight in Schenectady just got harder. The vaunted $3 million HUD loan slated for city this year is coming with a tangle of requirements that took city officials by surprise. “This is just off the wall,” said Director of Development Richard Purga. The city can only demolish properties with the HUD money if it acquires them after it gets the loan. Any properties it has already taken through foreclosure and abandonment are not ...

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comments

JIMOCONNOR
April 26, 2014
4:32 p.m.

[ Flag Post ]

How about securing staff capable of READING and avoiding WISHFUL THINKING. If i'm reading correctly, a reading error has been salvaged by a set of foreclosure errors. Some might call this magical thought realized through serendipity. This is like proclaiming immortality, leaping off a roof top to find you've landed on a pile of mattresses. Just how often could this happen before the magic, or, luck runs out?

ChuckD
April 26, 2014
11:33 p.m.

[ Flag Post ]

Wait, what? This means they'll need to be accountable to how the money's spent? Well that sucks.

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