With the help of Cooper University Hospital Board Chairman George E. Norcross some Camden residents may be able to buy homes for $1, reports the Philadelphia Inquirer.
The Camden revitalization project is addressing the housing pledge established in 1992, which would allow low-income tenants an opportunity of home ownership, reports the Inquirer.
Isreal Roizman, a Lafayette Hill developer had made plans with the city of Camden in 1992 to restore 91 different properties in 65 different buildings costing $175,000 reports the Inquirer. In the agreement, Roizman assured he would offer ownership to residents for $1.
More than 15 years later Cooper Board Chairman Norcross is revitalizing the project with hope to keep Camden families in their homes. In a closed meeting on Tuesday, Roizman along with city officials and community leaders discussed Roizman’s pledge and also his $6.9 million dollar debt to the city according to The Inquirer.
Roizman and his lawyers discussed the legality of the agreement and say that the new tenants may be responsible for those debts according to the paper. The state Housing and Mortgage Agency has been quiet about the controversy and Roizman’s unpaid debt to the state.
The main concern of the project is finding an agency willing to handle property-transfer issues says Roizman according to NJ.com. Norcross says he hospital is willing to help fund services with the transfer to residents says The Inquirer.
