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Suncoast Pasco News

Friday Public Hearing To Focus On Foreclosure Rescue Plan

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By Carl  Orth | The Suncoast News

Published: November 19, 2008

NEW PORT RICHEY - Pasco residents can comment on the county's proposed foreclosure rescue plan during a Friday afternoon public hearing.

Area real estate industry leaders are planning to blitz Pasco officials with information on what they regard as the best way for the county to spend nearly $20 million in federal aid.

The Pasco Community Development Department will hold the public hearing 3 p.m. in the main auditorium on the first floor of the West Pasco Government Center, 7530 Little Road.

Then the County Commissioners will make a final decision about the plan during a meeting that starts at 10 a.m. next Tuesday, Nov. 25, at the Dade City courthouse.

The county must file its application for the federal aid by Dec. 1 with the U.S. Department of Housing and Urban Development.

The West Pasco Board of Realtors plans to take two busloads of its members to the County Commission meeting on Tuesday, Greg Armstrong, president of the realty group, said in a telephone interview.

HUD officials indicated most of the federal aid should go toward buying houses that are vacant following a foreclosure and fixing them up before selling them.

County officials said a few weeks ago that Armstrong wants the bulk of the $20 million to go toward down payment assistance to put new owners into foreclosed-on houses.

Then the new homeowners could fix up the houses with some aid.

This would be the fastest way toward recovery, Armstrong believes.
Carl Orth can be reached at 727-815-1068 or corth@suncoastnews.com.

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