By: Libi Uremovic | Original Article at Patch.com
The City of Beaumont Plans to Build 922 Houses in Heartland and 12,000 More Houses City-Wide
The July bank statement shows the City of Beaumont received $168,000 electronic deposits coded ‘Hrtlnd’. The General Ledger shows the City is coding the money received for Sewer Fees. Beaumont citizens will remember the big Heartland warehouse project the City attempted last July. Apparently since the City can’t push warehouses they’ve gone back to flooding the market with housing.
Rebecca Deming confirmed that 922 more homes are planned to be constructed and made reference to the City’s Major Project Status: http://www.ci.beaumont.ca.us/documentcenter/view/233
The Major Project Status as of April 9th lists a total of 12,339 new homes currently in progress, which would double the size of Beaumont. With no water and hundreds of foreclosures no smart businessman would invest their money into building more houses in Beaumont, but when all the risk is pushed onto ‘future homeowners’ the developers have got nothing to lose.
Heartland Area No. 5 is part of the original 1994 Mello Roos Bonds. Area No. 5 received $2,345,826 or 23% of the original $10 Million Bond Debt and was also assigned another $266,569 for ‘Facility Design’.
Area No. 5 was also a $350,000 beneficiary on the 1996 Sewer Enterprise Bond. On this bond the City is the Purchaser, is piggybacking (refunding) off the 1994 Bond Debt, and the debt is expected to be paid solely from Fee and Tax Revenue.
20 years ago Heartland received funding to develop the property. Since the money was never used; by law the funds must be sitting in a financial institution drawing interest.
The Beaumont Cherry Valley Water District will not be obligated to approve or uphold old agreements to provide water to this area unless the property owners of Heartland can prove they complied with the law in receiving government funding.
Lets’ see verification that the $3 Million received from bond debt has been sitting in the bank drawing interest for the past 20 years instead of going into their pockets.