If you want to buy the empty mostly finished store on the S curve, the CRA thinks giving you $150,000 is a good idea. The bank that holds the foreclosure on the store won’t come down in price and to get it sold Keven thinks that we should give our money to someone to help them buy it. That way, in ten years the tax money we get back from having it operating will pay us back.
There are so many holes in that thinking that it is hard to know where to start. I think we should let it sit, just like so many private homes and condos have to. Soon the bank will realize it has to lower the price to get rid of it. Or, if the bank wants to hold it until prices go up, so be it.
Many of us are in that position. But, I really don’t think many of us are in the mood to give a bank more money, after the mess they got us into with their sub-prime and no interest loans. Let them hold on to their deteriorating lump for as long as they want to. Sure it is an eye sore, but remember the building across the street from it, the old auction house, the city let it sit for years, accumulating code violations and falling apart, compared to the auction house, the green thing is beautiful.