EDITORIAL: Subdivisions, what to do now?
What a mess. That nearly 70 subdivisions are out of compliance with county codes is a terrible situation. Those are just in unincorporated areas of the county and don’t include defunct subdivisions inside the county’s towns.
There are two real questions here: How did that happen and what should be done about it?
Of course, most of the developments went under when the housing boom became a bust. Developers either saw their projects in foreclosure, or just walked away from them in the crash.
Many of the developments on the list don’t have active bonds that should have taken care of a developer’s nonperformance. In theory, those bonded projects should have had the money in place to finish incomplete roads and other infrastructure. That they don’t is something county leaders should ferret out.
The second issue is what to do now? There is pressure on the county to find a way and make those projects viable again; people bought lots that they cannot now build on. Some want the county to bail them out of those soured investments.
No doubt banks that hold those properties, or hold paper on them, would also like to see them fixed with public money rather than their own funds. It will be difficult for a bank to sell a foreclosed development if it’s not in county compliance.
And the county itself would like to see these properties fixed since they are causing a massive downward pressure on the tax digest. Until these properties are viable, they will drag down the surrounding area.
Most of the property involved is located along the formerly high-growth West Jackson Area. Some 20 of the properties are pods in the Traditions development, one of the county’s premier subdivisions that now suffers from a large foreclosure problem.
Despite all those problems, it will be difficult for the county to offer much help. Using taxpayer money to make good on people’s private investments will be a hard sell for anyone who makes such a pitch.
Of course, most of the developments went under when the housing boom became a bust. Developers either saw their projects in foreclosure, or just walked away from them in the crash.
Many of the developments on the list don’t have active bonds that should have taken care of a developer’s nonperformance. In theory, those bonded projects should have had the money in place to finish incomplete roads and other infrastructure. That they don’t is something county leaders should ferret out.
The second issue is what to do now? There is pressure on the county to find a way and make those projects viable again; people bought lots that they cannot now build on. Some want the county to bail them out of those soured investments.
No doubt banks that hold those properties, or hold paper on them, would also like to see them fixed with public money rather than their own funds. It will be difficult for a bank to sell a foreclosed development if it’s not in county compliance.
And the county itself would like to see these properties fixed since they are causing a massive downward pressure on the tax digest. Until these properties are viable, they will drag down the surrounding area.
Most of the property involved is located along the formerly high-growth West Jackson Area. Some 20 of the properties are pods in the Traditions development, one of the county’s premier subdivisions that now suffers from a large foreclosure problem.
Despite all those problems, it will be difficult for the county to offer much help. Using taxpayer money to make good on people’s private investments will be a hard sell for anyone who makes such a pitch.
more then a dumping pit for losers to dump unwanted animals,
contractors to dump trash and more losers to dump household
trash. 3 calls to my "rep" have never been returned!
If I could find a way to flatten the tire of every loser I see
drive down there.....