Wednesday, June 01, 2005

GT Redevelopment Agency Sales at a Profit?

Read about the End of Low and Moderate Income Housing Projects in Grand Terrace.


Arliss House upgrade planned
GRAND TERRACE: The ex-shelter has become an eyesore. The city will renovate and sell it.
12:35 AM PDT on Wednesday, June 1, 2005
By PAUL LaROCCO / The Press-Enterprise

http://www.pe.com/localnews/sanbernardino/stories/PE_News_Local_B_bhouse01.258d1c.html

(Steve)..Berry was quick to point out, however, that the city "isn't in the real estate market," and never intended to buy the house cheap and flip it for a significant profit. Because of the boom in property values the city has seen over the past two years -- more than a 90 percent increase -- the city has been forced to abandon its low- to moderate-income homebuyers program.