Boston Approves Ordinance Requiring Registration Of Foreclosed Buildings; $300/Week Fines For Failure To Comply

In Massachusetts, The Boston Globe reports:

• The Boston City Council voted unanimously for an ordinance pressuring mortgage companies to maintain foreclosed buildings. The ordinance, sponsored by Councilor Rob Consalvo, has the support of Mayor Thomas M. Menino and will take effect as soon as he signs it. Companies will be required to register foreclosed properties with the city, identify who is responsible for maintenance, and post their contact information at the property. Companies that fail to comply or to properly maintain vacant buildings face weekly fines of $300 per property. The ordinance is an attempt to prevent the deterioration of a growing number of foreclosed, empty buildings that dot the city's neighborhoods.

Source: City Council approves rules for foreclosed properties.

In a related Boston Globe story, see Menino opens "war room" to fight foreclosures.