MAY 25, 2017 “IS IT TRUE”

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IS IT TRUE we would appreciate your taking time to watch an  interesting Channel 44 News report concerning Lincoln Estates residents receiving letters of tenancy for terminations?

IS IT TRUE we have been told that Mayor Winnecke has known about this issue long before it was made public?  …at last night May 24, 207 “Mayors Traveling City Hall” meeting Mayor Winnecke looked mis-informed and totally surprised  to hear about the letters of tenancy for terminations given to the residents of Lincoln Estates?

IS IT TRUE that Lincoln Estates was sold to a bank named Bayview Loaning Service LLC in 2016?   … the bank then sold this property to a newly formed corporation called City Pointe Evansville, LLC earlier this year?  …we wonder what are the names of the people who own the newly formed City Pointe Evansville, LLC?  …we also wonder who were the owners of Lincoln Estates before Bayview Loaning Service LLC  took over the ownership of this property in 2016?

IS IT TRUE that the entire decision of giving Lincoln Estates residents letters of tenancy for terminations smells of backroom political wheeling and dealing at the expense of the unemployed,  elderly people who have serious health issues. the poor and disabled people of color of the 4th Ward?

IS IT TRUE after viewing the attached Channel 44 News report we feel that you might want to do something to help the soon to be displaced residents of Lincoln Estates?  …because Lincoln Estates houses around 50 families and individuals who uses a governmental subsidized voucher program you should immediately call and file a formal complaint against the new owners of Lincoln Estates, City Pointe Evansville LLC with:

OFFICE OF THE SPECIAL INSPECTOR GENERAL FOR THE TROUBLED ASSET RELIEF PROGRAM

CONTRACT THE SPECIAL AGENT INVESTIGATIONS DIVISION

OFFICE NUMBER 202-927-9988

IS IT TRUE we also heard that a copy of the Channel 44 News report was sent to the above Special Agent Investigations Division for their review and opinions.  …it looks like this issue should now be considered a developing story!

BELOW IS THE CHANNEL 44 NEWS REPORT FOR YOU TO REVIEW

Lincoln Estates Residents Demand Answers at Evansville Traveling City Hall

Nearly 100 residents show up to Evansville’s Traveling City Hall, demanding answers for why their tenancy is being terminated at Lincoln Estates. On May 8th, many residents there received a notice stating their tenancy is being terminated,…

Footnote: Todays “Readers Poll” question is: Would you like to know who were the owners of Lincoln Estates before Bayview Loaning Service LLC took over the ownership of this property in 2016?

 

7 COMMENTS

  1. It sounds like the owner before the bank must have gone into bankruptcy. The reality of being a landlord is that if the tenants don’t pay sufficient rents, the future always ends in bankruptcy. Someone has to cover the costs plus a fair profit if there is going to be private ownership of affordable or subsidized housing. Nothing is free.

  2. In accordance with Indiana state law, landlords can terminate a lease for pretty much any reason as long as a written 30 day notice is given, which appears to be the case with these letters.

    If I had to guess, the new owners are going to come in and reposition the property and likely change the name/ rebrand and make it market rate. Unfortunately this comes at the expense of some affordable housing units, but this isn’t anything out of the ordinary in the rental industry. Someone saw an opportunity and was willing to take the risk, which is capitalism at it’s finest.

    Speaking from experience, it is VERY difficult to renovate a property and change it’s identity with tenants still present. Hopefully when it is finished, they will have a portion of units set aside as affordable housing, but they’re not required to do so by any means. It will be interesting to see how things shake out.

  3. The new City Pointe/Lincoln development creates new Evansville economic development downtown, right?
    It creates new jobs too, right?
    It increases real estate values downtown too, right?
    It brings a property on to the tax rolls that creates higher revenue too, right?
    It is a sign that downtown development is adding value to the community too, right?

    These are all issues that are discussed here at the CCO as challenges all the time, right?

    Is the agenda here to support these investment initiatives, or all of a sudden, is it to create more affordable housing? And to dismiss signs of progress, and switch to concern that someone else is making money “instead of me?”

    Which is it?

    • You point out some very true realities. This should indeed increase the value of these residential units thus increasing the tax rolls. It also may recent a future ask for a city subsidy to build a dorm for medical students. I doubt that other than some temporary jobs in refurbishment that any permanent jobs will be created. We’ll run market rate units with tenants that can afford to pay the rent typically are cheaper and easier to operate than a section 8 property.

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