CITY OF HALLANDALE BEACH

MEMORANDUM

JC08-004

DATE:             February 26, 2008

TO:                  D. Mike Good, City Manager

FROM:            Mayor Joy F. Cooper

SUBJECT:     Discussion of Foreclosures in Hallandale Beach

I would like to place an item on the March 5, 2008 Commission Agenda for discussion of foreclosures in Hallandale Beach and how we can help our community during these difficult times.

I am extremely concerned with the number of foreclosures being reported in Hallandale Beach, not just because of the effects these might have on our economy – which at this time are unknown - but most importantly, because of the effect they will have both on the quality of life of our community and on the property owners who are losing their properties due to foreclosure action.   With that said, I would like to discuss the following with my fellow Commissioners:

- Conducting a study of the impacts that foreclosures will have on our City and look at ways of helping our homeowners

- Researching the opportunity of getting the foreclosure notices in advance in order to: a) protect the homeowners from losing their properties, and/or b) allow the City to purchase properties to include in our Affordable Housing Program

- Research funding opportunities and programs to assist property owners before they are threatened by foreclosure proceedings

- Request for the City to be included in Broward County’s Task Force to investigate the concern of foreclosures within Broward County

I believe that as leaders we have the responsibility to protect our residents’ American Dream, owning a home, and that with the proper information, funding and programs in place we will be able to accomplish same. 

I thank my fellow commissioners for the anticipated support of this most important issue.