Please click on images below to view full size.
Please click here to view the above article at Cleveland.com which includes reader's comments.
Here is a link to the Cuyahoga County Land Bank website and also a link to their list of "All Land Bank Properties."
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Video below: On October 26, 2009, the discussion of Ordinance: 50-09 reveals some interesting things:
South Euclid taxpayers have paid approximately $60,000 per year for the past 3 years on the original $1.8 million borrowed for the Greenvale 9. None of that money has gone to the principal.
Mayor Welo callously spoke that the foreclosure crisis didn't yield the opportunity to acquire more real estate: “Everything changed. When this first happened the market was quite different. We had two developers looking at it. However, at the time we weren't sure if we really wanted to turn it into housing. A lot of the residents liked the openness of it. We had hoped that we could maybe even get the rest of the homes. We thought maybe with the foreclosure process, you know, pick up a couple…”
- time: 9 min. 08 sec.
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