Interesting article. What the piece doesn't mention is that the River Road facility was granted a $400,000 "loan" that he doesn't have to start making payments on for quite a while. As an article in SonomaWest pointed out: "Judd gets a 3 percent interest rate with payments deferred for 30 years in exchange for a 55-year covenant" offering three units of "affordable housing."
According to county documents,"Judd acquired the Property on September 1, 2009 for $989,900 and assumed a Luther Burbank Savings (LBS) first mortgage in the amount of $965,516." So, he put down less than $35,000 -- and then got $400,000 handed to him. And this after Tom Lynch, who described himself as "a friend and client" of Judd's, had to recuse himself when it came time for the RRROC to vote on the Judd proposal.
And I have to say that the section on the Rio Inn is very insulting: it reads as if Rio Nido is one oversized meth lab, and the tone is incredibly condescending. I don't want to be rude, but it's clear you know next to nothing about our community. But of course the whole idea that this area is "blighted" -- the same misconception that fueled the bulldozing of entire neighborhoods during the days of "urban renewal" -- is the stock in trade of government bureaucrats who come barging into vital organic communities and seek to create "order." Instead, they create a dumping ground for the problems of the cities -- the very same problems many of us moved here to get away from.
That said, I have to add I am somewhat optimistic about Mr. Judd's remarks regarding his plans for the Inn. Nowhere do the words "affordable housing" appear in relation to that project. Good. Can I take this as a solid promise that we won't wind up with an "affordable housing" dumping ground for Santa Rosa's problem citizens?
Interesting article. What the piece doesn't mention is that the River Road facility was granted a $400,000 "loan" that he doesn't have to start making payments on for quite a while. As an article in SonomaWest pointed out: "Judd gets a 3 percent interest rate with payments deferred for 30 years in exchange for a 55-year covenant" offering three units of "affordable housing."
ReplyDeleteAccording to county documents,"Judd acquired the Property on September 1, 2009 for $989,900 and assumed a Luther Burbank Savings (LBS) first mortgage in the amount of $965,516." So, he put down less than $35,000 -- and then got $400,000 handed to him. And this after Tom Lynch, who described himself as "a friend and client" of Judd's, had to recuse himself when it came time for the RRROC to vote on the Judd proposal.
And I have to say that the section on the Rio Inn is very insulting: it reads as if Rio Nido is one oversized meth lab, and the tone is incredibly condescending. I don't want to be rude, but it's clear you know next to nothing about our community. But of course the whole idea that this area is "blighted" -- the same misconception that fueled the bulldozing of entire neighborhoods during the days of "urban renewal" -- is the stock in trade of government bureaucrats who come barging into vital organic communities and seek to create "order." Instead, they create a dumping ground for the problems of the cities -- the very same problems many of us moved here to get away from.
That said, I have to add I am somewhat optimistic about Mr. Judd's remarks regarding his plans for the Inn. Nowhere do the words "affordable housing" appear in relation to that project. Good. Can I take this as a solid promise that we won't wind up with an "affordable housing" dumping ground for Santa Rosa's problem citizens?
-- Justin Raimondo