Warren mayor seeks piece of Justice Department settlement for ci - 21 News Now, More Local News for Youngstown, Ohio -

Warren mayor seeks piece of Justice Department settlement for city

Posted: Updated:
WARREN, Ohio -

Warren Mayor Doug Franklin is asking the U.S. Department of Justice to set aside a portion of the money from a pending Bank of America settlement to help Warren and other Ohio cities deal with vacant, abandoned and foreclosed homes.

Franklin sent a letter to the justice department urging it to "consider the needs of Ohio communities", as it negotiates a settlement with the Bank of America over abusive lending practices.

Franklin pointed out that a recently negotiated $13.4 billion settlement with JP Morgan Chase & Co. provided no money for distressed Ohio cities.

A news release from Franklin says, "Abusive lending practices by these big banks resulted in foreclosures and abandonment in Warren and cities all over Ohio."  The award with Chase gave them credit for lowering interest rates for borrowers and for lowering principal balances of mortgages they hold. They were doing that anyway." says Franklin.

Franklin goes on to say,"We need hard dollars to take down abandoned houses and to rehabilitate houses in Warren. The Justice Department cannot allow banks to dictate terms that give the very same banks that created this mess."

Franklin and other officials around the state have formed a coalition backing the Ohio Plan, which proposes setting aside bank settlement funds for the demolition of vacant, abandoned, and unsafe properties, the rehabilitation of homes, prevention of foreclosures and the repurposing of vacant parcels.

 

  • More From wfmj.comMore>>

  • Dad charged after fallen dresser kills 2 toddlers

    Dad charged after fallen dresser kills 2 toddlers

    Thursday, July 24 2014 4:01 PM EDT2014-07-24 20:01:19 GMT
    ALIQUIPPA, Pa. (AP) - The attorney for a Pennsylvania man charged with involuntary manslaughter after a dresser fell on his two toddler daughters says their deaths were a "tragic accident," not a crime. Attorney Dale Fouse represents 28-year-old David Beatty, of Aliquippa, who is charged in the deaths of 2-year-old Brooklyn and 3-year-old Ryeley. Beaver County District Attorney Anthony Berosh says the girls would have lived if Beatty had checked on the girls when he heard the dresser fall on...More >>
    ALIQUIPPA, Pa. (AP) - The attorney for a Pennsylvania man charged with involuntary manslaughter after a dresser fell on his two toddler daughters says their deaths were a "tragic accident," not a crime. Attorney Dale Fouse represents 28-year-old David Beatty, of Aliquippa, who is charged in the deaths of 2-year-old Brooklyn and 3-year-old Ryeley. Beaver County District Attorney Anthony Berosh says the girls would have lived if Beatty had checked on the girls when he heard the dresser fall on...More >>
  • Ocean crash kills teen pilot seeking world record

    Ocean crash kills teen pilot seeking world record

    Wednesday, July 23 2014 10:03 PM EDT2014-07-24 02:03:01 GMT
    A family spokeswoman says an Indiana teenager was killed when his plane crashed while trying to set a record for an around-the-world flight.More >>
    His pilot's license fresh in his hands, an Indiana teenager set out in June for the adventure of a lifetime: an around-the-world flight with his father designed to break a record and raise money to build schools in his...More >>
  • Ohio veteran cited for ducks hopes for law change

    Ohio veteran cited for ducks hopes for law change

    Wednesday, July 23 2014 9:56 PM EDT2014-07-24 01:56:55 GMT
    COSHOCTON, Ohio (AP) - An Army veteran who says his pet ducks help relieve his post-traumatic stress disorder is now hoping for a change in the Ohio village law that prohibits him from keeping the animals in his backyard. Darin Welker, who served in the Army National Guard, was cited for violating a ban on keeping farm animals in West Lafayette. The village is about 80 miles east of Columbus. Welker and his attorney said Wednesday that village officials are considering the possibility of a n...More >>
    COSHOCTON, Ohio (AP) - An Army veteran who says his pet ducks help relieve his post-traumatic stress disorder is now hoping for a change in the Ohio village law that prohibits him from keeping the animals in his backyard. Darin Welker, who served in the Army National Guard, was cited for violating a ban on keeping farm animals in West Lafayette. The village is about 80 miles east of Columbus. Welker and his attorney said Wednesday that village officials are considering the possibility of a n...More >>
Powered by WorldNow
All content © Copyright 2000 - 2014 Worldnow and WFMJ. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms