Welcome to Barack Obama's neighborhood. No, not the neighborhood that includes his mansion, but the area where Obama did his "community organizing" and where he served as a state senator.
As a state senator, Obama created a massive pool of tax credits for developers (that would benefit his friends and supporters like Tony Rezko).
And while campaigning for president, Obama promises to fund an "Affordable Housing Trust Fund" that could funnel real-estate developers an estimated $500 million a year.
This is Grove Parc, one of dozens of failed developments paid for by taxpayers under Obama's watch. Many of the units are uninhabitable and much of the site has been condemned.
Grove Parc and many other prominent failures were developed and managed by Obama’s close friends and political supporters.
While the developers collected millions from taxpayers, tenants lost their homes or were driven out by collapsed roofs, infestation, lack of heat, and other forms of blight and neglect.
Grove Parc is but one of dozens of properties, which represent thousands of housing units, utterly ruined by Obama's friends and supporters.
For eight years Obama represented this neighborhood; Grove Parc by itself holds 504 subsidized apartments.
99 of the units are uninhabitable due to unfixed problems by the developers and managers. Roofs have collapsed, sewage backs up into sinks, and mice scamper throughout.
Grove Parc now faces demolition.
The poor people living here have gotten the shaft from Obama and his developer buddies.And now Obama wants to extend this "success" to the entire United States by creating an "Affordable Housing Trust Fund" with a half billion dollars of taxpayer money that would likely be funneled to his friends and backers.
Major hat tip: Boston Globe. Linked by: Wizbang Blog, The Real Barack Obama and Old Controller. Thanks!
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