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Troy, MO

#22 Jun 13, 2013
The Central Scrutinzer wrote:
sure did, more Fox anti-Obama fear mongering.
please explain the story's relevance to the devlopment in florissant.
so notwithstanding the story's relevance, it's safe to assume that you're a dedicated MSNBC Obama worshipping drone?
Mark B

Florissant, MO

#23 Jun 13, 2013
TCS; thank you for your support. I will agree encouraging people to FOX was not the best alternative. I should have suggested going directly to westchestergov.com , there is a taped speech by the County Executive which is 12 minutes long. Has nothing to do with any media broadcast. They are the other county such as ours here in St. Louis, a county divided by multiple municipalities. I said nothing about Obama and did not mean to solely blame him. Clearly our situation has been going on for over three decades. The community change WAS identified back then and subsequently the organization known as North County Incorporated (NCI) was born. The original intent of NCI was to address and work with the community changing through education. Most of the original founders have since died although a couple still exist such as my uncle and father. HUD is handing out money in many different manners.
Recently I attended MHDC public hearing October 2012 for the St. Louis region. There were many applicants I’m sure you have even heard of. Close to $40,000,000 in the St. Louis region alone was handed out. Not for profit as well as for profit organizations were granted these funds. MHDC assists in managing HUD funds that are dealt with locally as only one source of the revenue stream. National companies work directly with HUD. These decisions (as to where to place NEW low-income facilities) are originated by studying 2010 census tracts. It has only been “as of recent” 2009 that HUDs printed material has specifically used repeated verbiage towards or about (minorities) in a very strategic manner. Don’t get me wrong, there has, for a long time been the Federal Fair Housing laws and standards. My concern as our economical situation does not improve, more developers will become wiser and will resort to this type of income generating stream. Yes some may call them slumlords, or schmucks but this caliber of developer would not exist if a funding mechanism was not available. Thanks for your thoughts.MB
WHat

Florissant, MO

#24 Jun 13, 2013
The Central Scrutinzer wrote:
sure did, more Fox anti-Obama fear mongering.
please explain the story's relevance to the devlopment in florissant.
That's it .. shoot the messenger and ignore the message. Typical liberal.
TTU

Saint Louis, MO

#25 Jun 14, 2013
The Central Scrutinzer wrote:
sure did, more Fox anti-Obama fear mongering.
please explain the story's relevance to the devlopment in florissant.
If you are concerned that the news article is biased because it was aired on Fox, I recommend that you go to westchestergov.com and read what they have to say. I have. The news piece does not appear to me to be slanted or otherwise different from what is on the county's website. By hte way, Westchester is a bastion of so called limousine liberals.

As background, the county which is a wealthy burb of NYC, was accused by HUD and community activists of redlining type activities by virtue of its zoning rules. HUD threatened suit. As a settlement to avoid suit, the county agreed to zone for about 749 low income housing units. This is one of the wealthiest suburbs in the entire nation, and as you can imagine, zoning areas for low income housing is not a popular step. But the county carried on and zoned for the housing and it is under construction.

HUD has now recently notified the county that this number was a floor, and that it still considers the local zoning rules to be exclusionary, and evidence of redlining based on race and ethnicity, and is now demanding many thousands of low income housing units. And, as one might expect, the county is crying foul, and has decided to loudly publicize the matter.

When you put this kind of housing in a community, you are taking a piece of land off the tax roles for decades. Because it is for old poor people, it wont produce much sales tax or other income. But it will likely result in frequent ambulance calls, and if the patients are medicaid/SS, little or nothing will be paid out to the local responding emergency response entity. This puts the burden on local taxpayers. If the amount of this type of housing is proportional to local need, and is controlled as to who lives there, it may not be too burdensome, but if folks are imported, then it can be a problem.

Unfortunately, I cannot think of a single instance where a HUD owned or client property has been a good neighbor or an asset to a community. Not one. And now they are forcing their properties down the throats of communities, as evidenced by the Westchester County video.

And I do not like the idea of federal gov't agencies threatening local control of zoning and the like. Not one bit.
I'm glad Mark was on top of this and brought it to our attention.
Inquiring Minds

Florissant, MO

#26 Jun 16, 2013
Mark B - curious to know whether the bank foreclosed this property from you or whether they took the deed back in lieu of forclosure? Are you trying to squelch the deal because the current sale price would result in your being liable for a deficieny balance? Hoping for a different buyer who will pay off your entire loan? inquiring Minds would like to know.
TTU

Saint Charles, MO

#27 Jun 16, 2013
The Central Scrutinzer wrote:
sure did, more Fox anti-Obama fear mongering.
please explain the story's relevance to the devlopment in florissant.
I for one applaud Mark for his attitude and and admire his risk taking.

All the while the real estate market was being manipulated and it crashed. That was no fault on his part.

I hope he comes out okay and tries again.
Mark B

Florissant, MO

#28 Jun 17, 2013
Inquiring Minds, I appreciate your curiosity, Although you are not the first to ask this question. Let me give you some background. I have address this/these question many times before in previous Topix categories. I have absolutely nothing to hide. I have appeared in front of the city council (which is available on their website for you to review) as to the demise of my project. I spoke for 8 minutes and explain step by step what happened between ME and Reliance Bank. The quick version is this--- my (wife and partner) personally guaranteed a loan with Reliance Bank in 2008. January 2010 she died. In June of 2010 R/B credit ratio numbers known as (the Texas ratio) which is a bank credit rating system, were severely bad. The Federal Reserve was going to shut them down (such as they did Truman Bank 2012) and possibly soon (Superior Bank in Hazelwood). Reliance bank decided to call all commercial loans due. October 2010 reliance bank approached me and told me they were no longer going to be my banker and handed me a 30 day “call note”. In November 2010 after receiving my notification of not refinancing with another lender and that I had no intentions of paying the loan off 100%, reliance bank filed a “breach of contract” suit against me. Casenet #10sl-cc04626 is where you can find the court case of breach of contract. Reliance Bank at that time did the same thing with almost two dozen other St. Louis Home Builder Association builders/developer’s. They called my $1.3 million development loan and my $670,000 construction loan due and payable within 30 days. The development lots and the building of course was collateral. So based upon contract agreement, I could not pay their demand and in return they possessed ownership of the development and improvements. The bank currently holds a judgment against me for roughly $750,000 total. They sold the property to Goldenberg as it stood last year for $200,000 cash. Now if I wanted to be sneaky I could have repurchased the property under a fictitious name for $210,000. Although legal to do I chose not to. Reliance bank sold the property to the highest bidder Goldenberg, fair and square. I hold no emotional ties or financial ties to this property. It makes absolutely no financial difference to me who owns it. As for is squelching any deal, the deal is and has been, already done. Goldenberg has owned the property for over a year. On the other hand, I have been associated with fighting / opposing new low-income housing since 1994 in ALL of the north county area. I have fought and won many new developments entering our community using subsidized financing for low-income housing. You can research this through the post dispatch archives. If I have not answered your question thoroughly please let me know, Mark.
Inquiring Minds

Florissant, MO

#29 Jun 19, 2013
Mark B wrote:
Inquiring Minds, I appreciate your curiosity, Although you are not the first to ask this question. Let me give you some background. I have address this/these question many times before in previous Topix categories. I have absolutely nothing to hide. I have appeared in front of the city council (which is available on their website for you to review) as to the demise of my project. I spoke for 8 minutes and explain step by step what happened between ME and Reliance Bank. The quick version is this--- my (wife and partner) personally guaranteed a loan with Reliance Bank in 2008. January 2010 she died. In June of 2010 R/B credit ratio numbers known as (the Texas ratio) which is a bank credit rating system, were severely bad. The Federal Reserve was going to shut them down (such as they did Truman Bank 2012) and possibly soon (Superior Bank in Hazelwood). Reliance bank decided to call all commercial loans due. October 2010 reliance bank approached me and told me they were no longer going to be my banker and handed me a 30 day “call note”. In November 2010 after receiving my notification of not refinancing with another lender and that I had no intentions of paying the loan off 100%, reliance bank filed a “breach of contract” suit against me. Casenet #10sl-cc04626 is where you can find the court case of breach of contract. Reliance Bank at that time did the same thing with almost two dozen other St. Louis Home Builder Association builders/developer’s. They called my $1.3 million development loan and my $670,000 construction loan due and payable within 30 days. The development lots and the building of course was collateral. So based upon contract agreement, I could not pay their demand and in return they possessed ownership of the development and improvements. The bank currently holds a judgment against me for roughly $750,000 total. They sold the property to Goldenberg as it stood last year for $200,000 cash. Now if I wanted to be sneaky I could have repurchased the property under a fictitious name for $210,000. Although legal to do I chose not to. Reliance bank sold the property to the highest bidder Goldenberg, fair and square. I hold no emotional ties or financial ties to this property. It makes absolutely no financial difference to me who owns it. As for is squelching any deal, the deal is and has been, already done. Goldenberg has owned the property for over a year. On the other hand, I have been associated with fighting / opposing new low-income housing since 1994 in ALL of the north county area. I have fought and won many new developments entering our community using subsidized financing for low-income housing. You can research this through the post dispatch archives. If I have not answered your question thoroughly please let me know, Mark.
So the answer is YES, the bank did foreclose on your property. The answer is also YES, with the current buyer you still owe for a deficiency balance on the loan. The only thing not answered is, whether the current owner's purchase is contingent on their development? If so, killing the development kills the deal for another buyer down the road. If not, sounds like you still owe the bank $ 550,000.
Mark B

Florissant, MO

#30 Jun 20, 2013
Inquiring Minds, NO- The bank did not foreclose. Foreclosure is a specific legal process in which the lender attempts to recover the balance of a loan from a borrower who has (stopped making payments).“I did not stop making payments.” If the borrower defaults,(the court of equity) can grant the borrower the equitable right of redemption. While this equitable right exists, it is a cloud on title, and the lender cannot be sure that he can successfully repossess the property.“The bank’s financial condition was horrible and in jeopardy by FDIC”. The promissory note was made with a recourse clause that if the sale does not bring enough to pay the existing balance of principle and fees the lender could claim for a (deficiency judgment). The lender did not make this claim and did not pursue any judgment. Reliance bank DID pursue (Breach of Contract). The property with improvements (COLLATERAL) was secured with a deed of trust. As I previously stated, Cathy and I PERSONALLY guaranteed this loan with all of our accumulated assets.
Of the 22 page loan agreement document, page 7, paragraph 2 “DEFAULT” is itemized with 14 potential actions. Action 11 –“EVENTS AFFECTING GUARANTOR”,(any of the preceding events occurs with respect to any Guarantor of any of the indebtedness or any GUARANTOR DIES or becomes incompetent, under any GUARANTY of the indebtedness. In the event of DEATH, lender, at its option, may, assume unconditionally the obligations arising under the guaranty in a manner satisfactory to the lender, and, doing so, cure any EVENT OF DEFAULT. This clause provided Reliance Bank the opportunity,(due to the death of ONE of two guarantors) the CURE to satisfy their urgent financial need,“TO BE PAYABLE ON DEMAND”. Because I was not willing to pay $1.9 million in 30 days, I placed myself in breach of contract. The court ruled on the breach of contract suit in favor of Reliance Bank for $749,000.00.
So the bank did NOT foreclose. There is NO deficiency balance. The new property owner as of 7/2012 purchased the property from Reliance Bank (the owner 11/2010) and closed at U.S. title in legal process. The new property owner (is the owner of record) and there is NO purchase contingency. I do not owe anything more than the current judgment.
The only deal that I am attempting to stop is the addition of low-income housing to the city of Florissant. I am ON RECORD since 1995 opposing low-income subsidized housing. I do not believe any “for profit business” should receive 100% financial grant (tax credits) to build for low-income tenants. The city is on record for not granting a 10% TIF. Why should they support a developer who would receive 100% of the cost of the project as a gift? I have ALL supportive documentation to prove my statements. If there is anything else I can address I will be glad to do so, Mark.
fyi

Saint Louis, MO

#32 Jun 24, 2013
hey mark, we know your just pissed off because you lost your ass on the property. get over it bubba. from what i understand when you bought that land you told the home owner you wouldnt tear down that house. yet you did. also your not even a florissant resident. sooo maybe you should worry about hazelhood!
wow

Florissant, MO

#33 Jun 24, 2013
fyi wrote:
hey mark, we know your just pissed off because you lost your ass on the property. get over it bubba. from what i understand when you bought that land you told the home owner you wouldnt tear down that house. yet you did. also your not even a florissant resident. sooo maybe you should worry about hazelhood!
Ive never seen an a@@hole so misinformed.
fyi

Saint Louis, MO

#34 Jun 24, 2013
your right i maybe a bit misinformed. and i dont know or have anything against mr. b. i do know this anyone that wants to build $300k plus condos in florissant must be off thier rocker.the problem in this city isnt the 55 plus low income people. its the teen thur 40's thugs. and the wouldnt be living there.i do know it was a neet little plot of land and was better off the was it was.
Mark B

Florissant, MO

#35 Jun 24, 2013
FYI #32; in all sincerity “who is WE”? I seriously doubt you know anything about me,(as you have admitted). You may have perceptions and are obviously misinformed so who is your puppet master? If you truly care to know or simply desire the truth, on Saturday mornings at 8:00 AM the property owner who sold the property to me, SON, has breakfasts routinely at the same place. His name is Rick. Stop in and ask him directly what the truth is about the house. As for me being “pissed off” for losing my ass or the property? Well, your statement indicates to me that you have NEVER LOST anything of significant VALUE! I can assure you the property or money LOSS is the least significant in my life, it is only a minor involuntary contraction. As far as being a Flor resident (I am) so what is your point? As for my belief in 2006 that upscale condos in Flor was a “good idea”, all required supporting data necessary, proved positive. These paid experts are requirements when securing commercial financing. If you recall no one predicted a second depression. If you thought so highly of the little plot of land, why didn’t you step up to the plate and purchase it when the elderly people needed help? I believed then and still do, in our community. What can you say that you have tried to do, to better our community? What can you say you have done to make a significant difference? What can you say you are involved in and volunteer for? Please do not get all worked up these are only rhetorical questions, I do not expect a puppet ghost to respond honestly.
fyi

Saint Louis, MO

#36 Jun 25, 2013
typical politician answer. your right ive never lost anything to that scale. my family has flipped a house or to and alway came out ahead. as far as buy that property i with i would have. it was long gone by the time i heard about it. i do understand the house markets bottom feel out. regardless, who would want to buy up scale housing there? i know thi sir. florissant couldnt take a hit like that. as far as making a significant differance yeah probably not as much as you. although im not trying to run for any office. but when i do volunteer it though the florissant elks lodge.
atrocious

Hazelwood, MO

#37 Jun 25, 2013
fyi wrote:
typical politician answer. your right ive never lost anything to that scale. my family has flipped a house or to and alway came out ahead. as far as buy that property i with i would have. it was long gone by the time i heard about it. i do understand the house markets bottom feel out. regardless, who would want to buy up scale housing there? i know thi sir. florissant couldnt take a hit like that. as far as making a significant differance yeah probably not as much as you. although im not trying to run for any office. but when i do volunteer it though the florissant elks lodge.
I wish someone would volunteer to send you back to school. Trying to read your posts is like trying to decipher the scribblings of a drunk 4yr old.
P E R

Foristell, MO

#39 Jun 26, 2013
fyi wrote:
typical politician answer. your right ive never lost anything to that scale. my family has flipped a house or to and alway came out ahead. as far as buy that property i with i would have. it was long gone by the time i heard about it. i do understand the house markets bottom feel out. regardless, who would want to buy up scale housing there? i know thi sir. florissant couldnt take a hit like that. as far as making a significant differance yeah probably not as much as you. although im not trying to run for any office. but when i do volunteer it though the florissant elks lodge.
And what exactly are you running for? Exalted Ruler of the local chapter of alcoholics anonymous or President of the I'm a useless drop-out and can't spell scholarship committee?
hoh

Florissant, MO

#40 Jun 26, 2013
That Mayor Schneider never could speel well.

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