page 119 show how the City of Worcester is going to spend 4,136,250 of Community Development Block Grant Money, check out this one line item.
- Gardner Kilby Hammond debt service 362,798
Nick K wrote about this a few years ago. This all goes back to a 5.8 Million HUD loan that the City has to pay back to HUD for the Gardner-Kilby Hammond project. Not only do we have to pay this amount for another 10 years there are two balloon payments
- 2018 1,870,000
- 2024 1,270,000
Although the City of Worcester (tax-payers) are having to pay this debt, the Main South CDC receives another award of 26,350. Don’t they owe the City of Worcester some 900,000 in HUD HOME funds audit?
For a minute take a look at how we spend $4.1 million dollars?. We are given $4.1 million dollars to invest back into our community and I know that there are rules and regulations as to how to spend the money. Meanwhile the Chandler Business Association working with Community Healthlink and Common Ground applies for $17,000 (100% of the monies right back to the kids–no administration fees)to fund a successful summer work crew hiring youths from the neighborhood that the business-owners and residents have supported the past 5 years and we get denied.