Welcome to The Home Equity Theft Reporter, a blog dedicated to informing the consumer public and the legal profession about Home Equity Theft issues. This blog will consist of information describing the various forms of Home Equity Theft and links to news reports & other informational sources from throughout the country about the victims of Home Equity Theft and what government authorities and others are doing about it.
Saturday, November 26, 2016
Agreement Reached On Relocation Assistance To Lot-Leasing Homeowners, Others Living In Austin Mobile Home Park; Residents Get Nine Months & Some 'Walking-Away Cash' To Vacate Premises & Make Way For Upscale Apartment Complex
In Austin, Texas, the Austin American-Statesman reports:
Residents of the Cactus Rose mobile-home park in East Austin have reached an agreement for relocation assistance with Oden Hughes, a developer that wants to build an upscale apartment complex on the site that would displace the remaining tenants.
Oden Hughes’ purchase of the land is contingent on a proposed zoning change. A vote on that change was scheduled at the City Council’s meeting on Thursday.
The agreement concludes more than 18 months of talks between City Council member Sabino “Pio” Renteria, the Cactus Rose Neighborhood Association, Montopolis neighborhood representatives and Austin-based developer Oden Hughes.
The mobile home park off of U.S. 183 near Vargas Road in rapidly gentrifying East Austin formerly housed more than 50 families, although some have moved since the developer announced plans for the project.
Remaining Cactus Rose mobile home owners who are current on their rent will have nine months to move once they receive a notice to vacate the property. Owners living in a single-wide mobile homes will each receive $10,000 in relocation assistance. There is one double-wide mobile home currently in the park, according to the agreement, and the owners of that home will receive $20,000.
Owners of recreational vehicles, and renters of permanent structures such as a duplex, will each receive $2,000. Residents will also receive their security deposits, as well as bilingual relocation assistance by a licensed real estate professional.
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Renteria said that as a city, Austin is “far from granting renters and mobile home residents the rights they deserve, but this is a step in the right direction.”
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