Moody To Detail Plan For Saving Neighborhoods - Updated

On Thursday, April 30, Mayoral Candidate Jim Moody will detail his plan to save neighborhoods from blight, increase affordable home ownership and help increase revenue to the City of Toledo. First mentioned in his mayoral announcement, Moody will detail plan implementation, a new special mortgage funding program and the positive economic impact to Toledo's treasury.

"Our neighborhood STAR program will get this city back on track for being the most affordable and livable city in America," said Jim Moody. He added, "It has been proven over and over again that a greater level of home ownership also decreases neighborhood crime too."

Moody's press conference will be held at the northwest corner of Palmer and Lagrange Street at 10:30 am. Nearly 40% of the homes on Palmer Street are either boarded up or abandoned.

Statement:
Saving Toledo's Neighborhoods

By
Jim Moody
Candidate for Mayor

Toledo's neighborhoods are under attack. The ill effects of way too many abandoned and neglected homes, coupled with the increased difficulties of home ownership, are destroying the very fabric that holds our neighborhoods together. Anchored by our Neighborhood STAR program, our initiatives will help stop neighborhood blight, decrease crime and help more Toledoans realize the American dream of home ownership.

The STAR program, which stands for Stabilization, Transition and Rejuvenation, is an initiative that combats the decay that is occurring in our neighborhoods from many different directions.

First, we will identify unnecessary and costly regulations that inhibit run down and abandoned homes from being fixed up and rejuvenated. Specific examples of these regulations include; the prohibition of windows from being replaced without using licensed contractors, vinyl siding from being used to enhance the exterior appearance of homes without costly and restrictive regulation and finally, simple plumbing upgrades that cannot legally be done without using expensive labor that costs as much as $100 per hour. By taking a common sense approach to our housing stock we can clean up our neighborhoods and make home values increase.

One of the surest and most proven ways to stop neighborhood blight is to transition as many homes as possible back into the home ownership pool. Unfortunately, Wall Street's mess is messing up our Main Street. I propose that we immediately initiate a privately funded, publicly sponsored PMI company aimed at increasing homeownership in our most vulnerable neighborhoods. By simply redirecting a little CRA money, we can get credit worthy homebuyers back on track to becoming home owners. This alone will increase the value of our neighborhoods and increase the revenues to our city.

We know boards bring blight. Simultaneously with our regulation review, we will standardize the stabilization of all abandoned and foreclosed homes. Immediately upon being sworn in as Mayor of Toledo, I will direct the city law department to draft regulations that guarantee, non emergency securing of homes will require all windows that are boarded, to be done so using wood that is painted black and cut to fit inside window and door jams. This will provide an enhanced appearance of the property, one that does not detract from a neighborhood.

Additionally, all lawns will be cut as often as necessary, including trimming, to maintain neighborhood integrity. Accountability will be a major component of this plan as well. Residents, who refuse to cut their grass, leave trash in their yard and maintain a modest level of habitability condition will be fined. We must and will clean up our neighborhoods. All of this will be done without using taxpayer money.

There are multiple benefits to this plan. They include;
*Thousands of job openings will occur. Imagine the number of carpet installers, painters
and carpenters who will be able to go back to work!

*Properties in our most vulnerable neighborhoods can now be affordably fixed up.
*Families who earn less than $25,000 per year will now have really nice homes to buy rather than having to continue to rent.
*City revenues will increase. According to the HBA, for every $100,000 in rehab work
that is performed in a city, $30,000 of additional taxes are earned as a result of
multipliers. The City of Toledo could realize hundreds of thousands, if not millions, of
additional dollars in enhanced revenue without further taxing its citizens.

Toledo is indeed facing a multitude of challenges; a blighted and neglected neighborhood doesn't have to be one of them.

No votes yet

Home DEBTorship is not the same as home OWNership. Getting people into unpayable debt is not a sane move.

Apparently Moody can't admit that home OWNership is being enhanced in Toledo already as prices continue to decline.

We know who Moody works for. He's a realtor ... so he works for a HIGH HOUSE PRICE (i.e. his commission). By definition, he's the ENEMY of affordable housing. Anyone who backs a plan for a "mortgage funding program" is merely trying to get house prices spiraling upward again, as credit and subsidy always causes.

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