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Tuesday, January 12, 2010

Update on Military Homes in Tower Park

The Enquirer tells us today that at Monday's council meeting there was concern about the city's ability to secure the houses from the VA - largely based on price.

A few thoughts:
  1. The concern seems to be based on no new information.  Council is concerned that they can not make a deal work based on the $3.7 million estimate given over 2 years ago.  The article mentions that the VA is in the process of providing a new market assesment which is scheduled to be delivered next month so I am not sure why they are spending energy on it now.  I really do not know why they think the assessment will not be significantly less than it was on the previous review given the additional weathering and wear / tear as well as the complete deterioration in the real estate market.
  2. If there is a legitimate concern about the $3.7 million price (which would be difficult to make a deal happen) then why are they just now springing to action?  Why have they not contacted both US senators and our representative to pressure some action from the VA?  Why have they not contacted developers about possibilities to be ready for action once the sale is readied?

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