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HUD projects up for sale to firm tied to Reagan era adviser
HUD plans to sell seven rental properties in New York New Jersey and Connecticut to First American Housing Preservation Corp a firm including Edward L Weidenfeld longtime Reagan campaign lawyer The deal bypasses competitive bidding with a 11 million price and a 2 percent mortgage rate to support about 5 million in repairs The arrangement is described as unusual by HUD officials noting no prior auctions for these properties and no other buyers at the time of the agreement
MENTIONED IN THIS ARTICLE
Washington
Edward L. Weidenfeld
Reagan
Department of Housing and Urban Development
HUD
Sheila Rabb Weidenfeld
Edward
Betty Ford
Weidenfeld
First American Housing Preservation Corp
New York
New Jersey
Connecticut
Philip Abrams
Abrams
Roy Demmore
Demmore
First American