More (not) thinking outside the box
Just as I have mentioned eminent domain as a useful policy tool if only to use the threat of it to help bring recalcitrant property owners to the table...
ironically, I mentioned this recently in the context of the plans of the Boys and Girls Clubs to close most of their inner city locations. Someone forwarded my writing about this to all the members of the City Council, and Councilmember Jack Evans of Ward 2 took up the idea--to protect the location in Georgetown! (while places in more lower income areas such as Columbia Heights and the east side of Capitol Hill are still likely to close). See "Evans mulls eminent domain against Boys and Girls Club branch," from the Examiner.
The Monday Post reports that HUD plans to auction a low-income housing complex despite an offer from the residents, see "HUD Set to Auction SE Complex Despite Current Residents' Offer."
I don't know if HUD, as a federal agency, is outside of common real estate laws--I doubt it.
If the complex is in foreclosure, it can be bought out of foreclosure, probably, by bringing the mortgage current.
The City could step in, in part using Housing Production Trust Fund monies, and buy the property out of foreclosure.
Labels: housing
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