Safe Mode: On
Vito Lopez scandal group got $24M to fix '$10' houses

www.nypost.com

A federal housing scandal that left thousands of New Yorkers living in ramshackle homes turned out to be a pot of gold for a not-for-profit group closely linked to powerful Assemblyman Vito Lopez, The Post has learned.

The agency founded by Lopez wound up buying 25 of the abandoned buildings from the feds for a miniscule $10, property records show. And if that wasn’t enough of a deal, the feds threw in $24 million to pay to repair the dilapidated buildings.

Now, the Lopez-backed Ridgewood-Bushwick Senior Citizens Council is hauling in federally subsidized rent from 100 apartments, plus rent from four storefronts in buildings scattered around a steadily gentrifying Bushwick.

The not-for-profit, which was founded by Lopez in 1973, wound up with a total of 49 buildings that were among the sites abandoned by unscrupulous flip-and-run scam artists a decade ago.

-

Added: Oct-5-2010 Occurred On: Oct-4-2010
By: gmccuiston
In:
Other
Tags: Vito Lopez, federal housing scandal
Views: 5777 | Comments: 1 | Votes: 0 | Favorites: 0 | Shared: 0 | Updates: 0 | Times used in channels: 1
You need to be registered in order to add comments! Register HERE