“Form a regional land bank to buy foreclosed properties to create affordable buying opportunities while guarding against neighborhood blight. Purchased homes could be rented at affordable rates and later sold at affordable prices.”
this is another scam like the Center City Development Corp – create an organization to spend the taxpayer’s money on something that makes no economic sense – create several six-figure income positions that will be filled with appropriately connected people and then have them hand out the tax-payer’s money to the businesses that just happen to be owned by those same appropriately connected people
these types of projects are always done in the ‘best interest’ of the taxpayer – in CCDC’s case they claim that there will be 70,000 people living downtown by 2020 to justify spending the taxpayer’s money subsidizing the over-building of downtown condos
this regional land bank is going to save us from ‘neighborhood blight’ – yeah, right …
~
I’m reminded of a scene in “Fiddler on the Roof”:
[the Rabbi is asked if there is a proper blessing for the Tsar]
Rabbi: A blessing for the Tsar? Of course! May God bless and keep the Tsar… far away from us!
Perchik: Money is the world’s curse.
Tevye: May the Lord smite me with it. And may I never recover.
~
[to God after his horse goes lame]
Tevye: Sometimes I think, when it gets too quiet up there, You say to Yourself, “What kind of mischief can I play on My friend Tevye?”
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Villager: An eye for an eye, and a tooth for a tooth.
Tevye: Very good. That way the whole world will be blind and toothless.
~
sorry for the digression into musical land – other classic musicals IMO: My Fair Lady, Music Man, Oliver
