At the March 6 Snohomish City Council meeting, Housing Hope, a local nonprofit organization, made a presentation, explaining its decision to purchase a 10-unit apartment complex at the southeast corner of the Avenue E and Second Street intersection to house homeless persons.
Looking into the details of the proposed transaction, one wonders if this really was an “arm’s length” deal. First, the sales price is $1.075 million, according to the listing agent. However, the latest county appraisal shows a total value of $757,2000, a difference of $317,800.
If the purchase money came all from Housing Hope I wouldn’t be writing this letter. However, Housing Hope wants county taxpayers to contribute $600,000 toward the purchase.
There are better ways to help the homeless than going through with this deal.
The Snohomish County Councilman for the city of Snohomish is Dave Somers.
Morgan Davis
Snohomish
Talk to us
> Give us your news tips.
> Send us a letter to the editor.
> More Herald contact information.
