Rally and attend the City Council meeting that will vote to move forward with the local principal reduction program (eminent domain). The resolution:
- Establishes an upper cap on the size of mortgage balance allowed into program;
- Establishes that the program will prioritize neighborhoods hard-hit by the crisis, predatory lending and foreclosures;
- Clarifies that the use of eminent domain, if needed, will be reserved for times of crisis, when underwater rates and foreclosure rates are particularly high; and
- Instructs staff to make a final attempt to see if the financial industry owners of these loans want to negotiate a resolution
Rally includes awesome visuals, a Grinch and images projected onto the side of City Hall! ACCE will be providing pizza, water and coffee in between the Rally and the Council Meeting.
Join and invite friends on Facebook: