Sunday, June 10, 2012

A waste that took decades to manifest itself fully

This disaster was decades in the making. The City of Cincinnati fancied itself a housing developer who could improve and manipulate the market to develop a successful housing project where the robust private marketplace had failed.

Uh huh. 

And how did that work out?

Lies, broken promises, disappointed buyers, and squandered millions.

Who is surprised?

Of course, Mayor Mallory's at it again with his many instances of crony capitalism.

Read it here.

1 comment:

  1. $2.5 million spent to develop some property. Sold for $176,000. Sounds like another round of economic development, government style.

    Then there's the $110 million and counting streetcar and $4 million wedding atrium. Two more "economic development" projects.

    And don't forget about the city of Cincinnati giving $984,000 to Mahogany's and the city of Wyoming giving $713,000 plus city parkland to DiStasi's. $1.7 million of taxpayer funds to open 2 restaurants.


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