City Council Responds To Dallas Morning News Affordable Housing Investigation, Doesn’t Say Much
Want to get a jump-start on upcoming deals? Meet the major Dallas-Fort Worth players at one of our upcoming events!
Earlier this month, the Dallas Morning News reported that Jose Santos Coria has purchased nearly 40 homes intended for affordable housing since pleading guilty to a felony charge of repurchasing stolen construction supplies in 2012.
Coria has been buying up lots for affordable housing for as low as $5k, then allocating millions for construction, making the end product far from affordable.
Coria has sold many of the lots to relatives who already own property elsewhere. Law enforcement suspected some of Coria’s housing funds were laundered money, according to court records.
The original investigation from the Morning News earlier this month has created a buzz within Dallas City Council. Neighborhood Plus chief Alan Sims sent a memo to City Council attempting to mitigate concerns, but didn’t allege any inaccuracies in the Morning News’ story. Coria has until 2018 to construct homes on the lots in accordance with state law, Sims said in the memo.
Incoming city manager TC Broadnax will have to tackle this issue, and many others related to affordable housing. [DMN]