TDA spends half its money on itself

[inteller]

quote:Originally posted by patric

quote:Originally posted by TheLofts@120

In most cases, the TDA must sell the property for fair market value (established by appraisal), especially is using CDBG funds.

Strike...

FOX23 uncovered records showing the Tulsa Housing Authority paid half a million dollars more for the land than it was worth.  Now opponents want to know who may have profited.  THA officials call the notion of improprieties "unsupported".

Records show that in January of 2008, an arm of the Tulsa Housing Authority bought land at the corner of Yale & Admiral for $800,000.  But in 2007, the land was appraised at only $225,000.  The seller is listed simply as C&W 9600 LLC, but it's unclear who is behind that entity.

"Who did profit from the sale?" asks project opponent Julie Hall.  "That has been almost impossible to trace and that does raise a lot of red flags."

Officials at the Housing Authority say the seller has no ties to the project.

"The land purchase was the result of negotiations with an unrelated seller who demolished an existing building and graded the land prior to sale," says THA Commissioner Scott Zarrow.  "No one associated with the Mental Health Association of Tulsa, the Tulsa Housing Authority, or this project has any connection to the sale or will profit from that sale or will profit from this project at all."

Because of a possible lawsuit from project opponents, THA officials declined to comment on who the seller was or with what funds the land was bought.  But project opponents feel they deserve to have all the answers.

"This is a public authority and we deserve, as members of the public, to know that what they're doing is above-board," says Hall.

THA officials also said today they've been in open communication with Housing and Urban Development about this project.  But opponent Julie Hall says when she spoke to a HUD official, she was told that hud had no paperwork related to the project.  

when the names behind that shell company are found out, the money trail will be easy to follow.

Somewhere shredders are smoking and sputtering from being over worked.

[TheLofts@120]

Actually Patric its not a strike...

The TDA is the Tulsa Development Authority and the THA (associated with the 10 N. Yale project) is the Tulsa Housing Authority.  They are two very distinct and separate entities.

[Wrinkle]

Besides George Shahadi, as Director, who can name the other members of TDA?

...we really should know who they are.

[TheLofts@120]

TDA other Board members are:

Carl Bracy - Chairman, works for an insurance company, State Farm I think
John Clayman - Commissioner, works for the Fred Dorwart law firm that drafted the Tulsa Stadium Trust with the City
Paula Bryant Ellis - Commissioner, works as VP of Community Development for BOK
Julius Pegues - Commissioner, Worked for the FAA and sat on the Tulsa Airport Authority under Susan Savage

[Hoss]

quote:Originally posted by Wrinkle

Besides George Shahadi, as Director, who can name the other members of TDA?

...we really should know who they are.

Shahadi tendered his resignation yesterday and withdrew his name for re-appointment.

http://www.tulsaworld.com/news/article.aspx?articleID=20081025_11_A11_hHehas233862

[patric]

quote:Originally posted by TheLofts@120

The TDA is the Tulsa Development Authority and the THA (associated with the 10 N. Yale project) is the Tulsa Housing Authority.  They are two very distinct and separate entities.

My mistake then, I couldnt find what I thought had  read...

[Wrinkle]

quote:Originally posted by TheLofts@120

TDA other Board members are:

Carl Bracy - Chairman, works for an insurance company, State Farm I think
John Clayman - Commissioner, works for the Fred Dorwart law firm that drafted the Tulsa Stadium Trust with the City
Paula Bryant Ellis - Commissioner, works as VP of Community Development for BOK
Julius Pegues - Commissioner, Worked for the FAA and sat on the Tulsa Airport Authority under Susan Savage

Thanks. I'd imagine these will appear frequently in upcoming issues of TW, so we'll now know them when we read them.

Follow the money.