Thursday, September 03, 2015

Costa Mesa Now In The Affordable Housing Business

FORECLOSED ON CIVIC CENTER BARRIO HOUSING CORP. PROPERTIES...
By now most of you have read the Daily Pilot article, HERE, or the City of Costa Mesa press release HERE, announcing the fact that The City has gone into the affordable housing business by foreclosing on 22 units on the Westside developed and managed - or mismanaged - by the Civic Center Barrio Housing Corporation.

...FOR THE OUTSTANDING DEBT
The City acquired these properties for the amount of the loan and fees outstanding on this project, $2.38 million, and we are told that the Public Services department will take over maintenance of the units until a property management company can be identified.  Read a recent staff report on this issue HERE.

SHOULD THE CITY BE A LANDLORD?
Unanswered are a few questions that are bouncing around in my skull.  For example, is it really a good idea for The City to be a landlord for affordable housing?  I understand why this money was loaned to Civic Center Barrio way back then and I understand why it was necessary to foreclose on the properties, but I'm not sure I want the city to be a landlord.  Perhaps a better path is to sell then to an organization with experience managing affordable housing.  Then, again, that's what we thought we were getting with Civic Center Barrio.

HOW LONG?
How long will we, The City, be managing these properties?  We presume that Mesa Management - Mayor Mensinger's employer - will NOT be the management company.  I wonder if Arnel will be a bidder for that job - because of the mayors close association with that company?

REPLACE WITH HIGH-DENSITY HOUSING?
Is there a plan afoot, now that we own the properties, to scrub those lots and sell them to the highest bidder for more high-density housing, similarly to the approach being taken with so-called "problem motels" in the city?

WE'LL BE WATCHING...
It's going to be interesting to watch this play out over the next couple years.  And, yes, we WILL be watching.

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1 Comments:

Anonymous Where's My Coffee? said...

I have no doubt whatsoever that the property will be sold to a developer friend of Righeimer's, and that it will soon be turned into more high rise, high density projects (and I do mean "projects" in every sense of the word). Our councilmen care NOT for the disadvantages and elderly. Affordable housing? Not in this city. You can bet there will be a little slice for our MPT as a finders fee.

9/04/2015 08:11:00 AM  

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