Our reporting relies on your support. Contribute today! 

Help us reach our goal of $250,000. The countdown is on!

Mayor Jerry Sanders met yesterday with a group of real estate pros, nonprofits and bank reps to be briefed on the foreclosure situation in the city. The mayor is concerned about blight from foreclosures and declining property tax revenues, said Rachel Laing, mayoral spokeswoman. Sanders asked the group, named the Short-Term Housing Foreclosure Advisory Committee, to gather ideas and brainstorm ways that the city can address the foreclosure problem, anything from local ordinances to lobbying for state or federal funding.

“Not everything originates from his head and he knows that,” Laing said. “This comes out of the 10-heads-are-better-than-one concept. And it’s also a little reassurance that you’re not missing anything.”

The members of the committee include Sherm Harmer of the local Building Industry Association, Bob Kelly of the San Diego Foundation, Sue Reynolds of Community HousingWorks and Rick Gentry of the San Diego Housing Commission. Yesterday’s meeting also included other real estate professionals and representatives from the credit counseling and banking fields.

The mayor will hold a press conference today to announce the city’s plan to spend $9.4 million in federal Housing and Urban Development grants to help homebuyers purchase foreclosed homes and have the city buy homes to rent out. The plan is slated to go to the City Council for approval this afternoon at 2 p.m. I’ll be there and will keep you posted; check back later for more.


Leave a comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.