15 YEARS AGO, TAXPAYERS PAID
MORE THAN $30 MILLION TO
REBUILD THE JORDAN PARK HOUSING
PROJECT IN SAINT PETERSBURG,
AND THEN GIVE IT TO PRIVATE
DEVELOPERS AT VIRTUALLY NO
COST.
THEY ARE SELLING JORDAN PARK
BACK TO TAXPAYERS.
IN OTHER WORDS, YOU NOT ONLY
PAY FOR IT, YOU PAY FOR IT
TWICE.
AND, THE COST DOESN'T STOP
THERE.
AND THAT'S WHY, MARK IS ON IT
TONIGHT.
BECAUSE, YOU PAID FOR IT.
MARK, LOOKS LIKE TAXPAYERS HAVE
TO PAY MILLIONS MORE JUST TO
RESTORE AND RENOVATE THIS
PROJECT.
Reporter: YOU CAN BANK ON IT
KEITH.
BUT THE SAINT PETERSBURG
HOUSING AUTHORITY INSISTS THIS
SALE IS A REAL BARGAIN FOR
TAXPAYERS.
ON THE OTHER HAND, WE FOUND
PLENTY OF CRITICS WHO BELIEVE
THE ONLY SWEET DEAL HERE IS FOR
THE PRIVATE DEVELOPERS WHO ARE
SELLING BACK THE 237 UNIT
HOUSING PROJECT TO THE SAME
TAXPAYERS WHO PAID FOR IT IN
THE FIRST PLACE.
BACK IN 2002, THE GRAND OPENING
OF THE REBUILT JORDAN PARK WAS
SUCH A BIG DEAL, EVEN GOVERNOR
JEB BUSH SHOWED UP TO CELEBRATE
IT.
A BRAND NEW DAY.
DID IT TURN OUT THAT WAY?
NO.
Reporter: LONG TIME
RESIDENTS LIKE CHARTOTTA SAY
PRIVATE DEVELOPERS WHO TOOK
OWNERSHIP AFTER PAYING ALMOST
NOTHING UP FRONT LET IT SLIDE
INTO DISREPAIR.
WHOEVER IS IN CHARGE HAS TO
KEEP UP THE PROPERTY.
Reporter: SYLVIA'S WATER
HEATER FAILED AFTER NICE BUILT
A NEST IN THE VENT AND THE RATS
WHO ROAM HER ATTIC TERRIFY HER.
I CAN HEAR THEM AT NIGHT
SCRATCHING.
Reporter: RECENTLY, THE
SAINT PETERSBURG HOUSING
AUTHORITY AGREED TO BUY BACK
JORDAN PARK'S 237 APARTMENTS
FROM THE LANDEX CORPORATION AND
RICHMOND GROUP DEVELOPERS WHO
HAVE OWNED THE PARK AND
POCKETED RENT FOR 15 YEARS.
CHECK OUT THIS DEAL.
THE HOUSING AUTHORITY PAYS A
DEVELOPERS 400,000 IN CASH.
SPENDS AS MUCH AS $7 MILLION TO
RENOVATE THE RUN DOWN PROJECT.
AND, FORGETS ABOUT THE 18
MILLION IN DEBT THAT DEVELOPERS
OWE TO TAXPAYERS.
SO BASICALLY, THE DEVELOPER
WALKS AWAY FROM $18 MILLION IN
DEBT IN ADDITION OF GETTING
$400,000.
ALL OF THESE WERE GRANTS
BASICALLY.
Reporter: REMEMBER, THE
DEVELOPERS PAID ALMOST NOTHING
IN THE FIRST PLACE.
EARNED MILLIONS IN TAX CREDITS.
KEPT ALL THE TENANT RENT AND
ALL THE RENT SUBSIDIES FOR 15
YEARS.
YOU ARE SAYING THAT IS A
GOOD DEAL FOR TAXPAYERS.
THAT'S A GREAT DEAL FOR
TAXPAYERS.
Reporter: DOESN'T SEEM THAT
WAY TO ACTIVIST TERRY LIPSKY-
SCOTT.
WHY ARE WE PAYING OVER AN
OVER AND OVER AGAIN?
Reporter: SCOTT THINKS THIS
IS A RAW DEAL FOR TAXPAYERS.
I'M TOTALLY PERPLEXED AS TO
WHY WE ARE HAVING TO PURCHASE
SOMETHING THAT IS ALREADY OWED.
NOT ONLY BY THE STATE AND
FEDERAL GOVERNMENT, BY THE
TAXPAYERS.
Reporter: WELL, SCOTT IS NOT
THE ONLY ONE ASKING QUESTIONS.
STEVE CORNELL IS CALLING FOR AN
AUDIT TO EXPLAIN HOW DEVELOPERS
CAN WALK AWAY FROM A $3 MILLION
CITY LOAN AS PART OF THIS SALE.
NOW, THOSE DEVELOPERS BY THE
WAY, HAVE NOT RESPONDED TO ANY
OF OUR E-MAILS OR CALLS TO
EXPLAIN THEIR PART IN ALL OF
THIS KEITH.
THIS IS THE KIND OF STORY
THAT WILL DRIVE YOU NUTs AS A
TAXPAYER.
ONLY THOSE DIRECTLY INVOLVED
WOULD SAY THIS IS A GOOD DEAL.
THE REST OF YOU ARE LIKE WHAT
IS GOING ON.
BUT LET'S TALK ABOUT CORNELL'S
AUDIT.
WILL THAT HOLD UP?
Reporter: LIT BE A REAL
CLIFF HANGER.
HE IS ASKING FOR THIS TO BE
HEARD ON THE 22 WHEN THEY
DECIDE WHETHER OR NOT TO DO
THIS FORENSIC AUDIT.
BUT, THE SALE, THE CLOSING THE
SET FOR JUST A WEEK LATER SO WE
ARE JUST GOING TO HAVE TO SEE.
WE WILL BE ALL OVER THAT TO
MAKE SURE WE KEEP TRACK OF WHAT
GOES ON THERE.
SOUNDS LIKE SUCH A
SWEETHEART DEAL.