IS IT TRUE? August 17, 2011
IS IT TRUE that the future of the Front Door Pride program was the topic of interest at the meet the candidates event in the historic district last night?…that this program has used money that was originally meant to be used as a business loan fund to build houses for about $200,000 and sell them for $100,000?…that of the first 14 houses built that 6 are still sitting empty with no buyer?…that the prevailing value of housing where these expensive homes are being built is less than $50,000?…that the area where these houses have been built is the second highest crime area in the City of Evansville checking in with a rating of 9 meaning that 91% of the census tracts in America are safer?…that the target market for these homes has been young educated professionals of child bearing age?…that the neighborhood schools are among the lowest performers in the entire State of Indiana?…that a mixture of high crime, poor schools, low but declining real estate values, and of course the smells from Bee Slough when the Combined Sewer Overflow is happening does not make an attractive package at any price?
IS IT TRUE that the Front Door Pride houses themselves are quite attractive and would easily sell for between $150,000 and $200,000 in any suburban Evansville neighborhood to the East, North, or West?…that this hodge podge approach to placing nice new homes randomly around a neighborhood that is dominated by abandoned shotgun houses, dilapidated homes, empty lots, drug dealers, and prostitutes is an ill conceived scheme and is unsustainable?…that in the free market of residential real estate that this program has already failed?…that it has failed for the same reason that if some quixotic investor built the world’s tallest building in downtown Evansville that it would fail too?…that some things are just too expensive for some neighborhoods and this is one of them?…that we hope that both of the candidates for Mayor will just stop further building of Front Door Pride houses in its tracks?
IS IT TRUE that fixing up the old shotgun houses is even more costly than tearing down and building new?…that the most cost effective solution is to tear down the old shotgun houses and build nothing?…that the population of Evansville is still in decline and that with nearly 10,000 abandoned and/or dilapidated homes there is no need for construction of residential units at this time?…that to build more homes or apartments adds to the oversupply and actually inhibits the investment of private dollars to do improvements on perfectly viable homes?…that the City of Evansville in recent years seems to have forgotten that Economics 101 lesson about “supply and demandâ€?…that residential housing in the FDP area has very limited demand?…that in spite of that our elected officials continue to invest our tax dollars in additional supply with a guaranteed 50% loss built into the price?…that one definition of INSANITY is to keep doing the same thing and expecting different results?…that by this definition that the Weinzapfel administration’s Front Door Pride program truly is INSANE?…that it is time to STOP THE INSANITY?
IS IT TRUE that demand will only increase when people actually want to live in Evansville?…that the real thing to watch for will be increasing population and elimination of abandoned homes with either the bulldozer or private dollars?…that another indicator is when someone can actually get a conventional loan on a FDP house for 80% of the cost to build it?…that will not happen until Evansville is a net job creator?…that what we really want to see from the candidates is how they will create an atmosphere to bend the wealth creation to the positive?
IS IT TRUE that Republican candidate Lloyd Winnecke actually has published a very comprehensive concept of a “jobs†plan?…that what we are eager to see from Mr. Winnecke is the details about HOW and WHO will be enlisted to execute his plan?…that we are still awaiting a plan from Democratic candidate Rick Davis but are just as eager to see what his plan is?…that if Evansville is to ever start to claw its way back UP the prosperity curve that it will be good jobs that make this happen?…that programs like Front Door Pride, Vision 1505 ($240k apartments), and other residential construction projects in a declining population is not the answer that we need?