Wednesday, December 16, 2009

Cincinnati tax liens would help recover $607K in NSP funds

Cincinnati City Council soon will consider an ordinance to place tax liens on 52 properties in an effort to recoup money spent on demolitions through the Neighborhood Stabilization Program.

The buildings, located in ten Cincinnati neighborhoods and identified as being in "high need" of removal, represent more than $607,000 in expenditures.

Lien amounts range from a low of $1,633.50 owed by Berry Rodford for the demolition of 6300 Desmond Street in Madisonville to a high of $54,741 owed by Susan Shepherd for the demolition of 934 Grand Avenue in East Price Hill.

The assessments would be payable in five annual installments, with an interest rate of 9 percent.
Previous reading on BC:
Dohoney: Hazard abatement funding too low for large-scale deconstruction program (6/17/09)
Cincinnati creates accounts for HUD stabilization funds (5/28/09)
Neighborhood stabilization funding to be tweaked (5/13/09)
Cincinnati to levy special assessments to collect from building owners (9/18/08)