Posted in UBID

Why Did Union Bay Improvement District Pay Down Mortgage on Problem Property?

So we know the Union Bay Improvement District was aware of a problem with the title on the School Property since April 2009.  UBID knew and yet the community was never advised of the problem and UBID continued on as though there was no problem.  Going so far as to use a total of $135,000. taxpayer money to pay lump sums against the mortgage in March 2010, and July 2010.  Why?

Here’s a couple of incidents where UBID paid down the mortgage on a property they knew wasn’t clear title.

excerpt administration report march 2010 lump sum 60 g copy

And this from July 2010 Landowner Update:

July 2010 Landowners' update lump sum to mort-2

One thought on “Why Did Union Bay Improvement District Pay Down Mortgage on Problem Property?

  1. Actually. the Admin Report and the Landowner Update is not accurate. According to the annual audited financial reports the mortgage was paid down $70,927 in 2009 and $30,962 in 2010. The principal payments called for were $14,301 in each of those
    years according to notes to the audited statements.

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