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MLKHDA Looking to the City for Help
The Martin Luther King Housing Development Authority is in a bit of financial trouble. At this week’s Economic Development Committee meeting, the organization’s executive director, Felix Flannigan, presented their situation and asked for … a bit of money.
How much? $1.9 million. Why? There’s an issue of a downturn in the economy and an impending foreclosure on a property purchased in 2005 that used another property for collateral. Plus, they’re trying to get their new mixed use building at South 11th and MLK built.
According to The News Tribune, there wasn’t a whole lot of enthusiasm in the room to help an organization that is already behind on some payments to the City. Especially when there isn’t much left in the contingency fund.
What will happen next? We’ll keep our ears and eyes open.
Link to The News Tribune
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