Jessica Garrison and Angel Jennings report on a new lawsuit filed this week by the City of Los Angeles that is part of "an aggressive attempt to deal with the urban decay caused by the housing crash."
Marking the second time the City of Los Angeles has gone after a major bank for being a slumlord, officials announced civil allegations this week that, "found problems in the way US Bank handled 1,500
home foreclosures and cited more than 150 homes that had fallen into
disrepair. The city is demanding that the bank clean up vacant
properties and improve conditions for families living in others."
According to Garrison and Jennings, "City officials say they want to hold banks that helped fuel the housing
boom responsible for the blight that rippled through the city after
those loans went bad."
"[S]eeking an injunction and potentially millions of dollars in
penalties and restitution from the Minneapolis-based financial
institution," the approach being pursued by Los Angeles is novel, but may set a precedent for cities seeking creative ways to deal with problems resulting from foreclosures.
"Deutsche Bank and US Bank have argued that the blame for neglected,
foreclosed homes lies not with them but with loan servicers, who are
contracted to manage the properties."
Read the full story: L.A. sues US Bank over blighted, abandoned homes
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Amtrak, CN end decades-long dispute with eight-year agreement
The new operating agreement establishes an updated framework for the companies to work together, including processes to resolve disputes.
Judges permit Denver to divert 77,000 acre feet from the Colorado River for reservoir expansion
Overuse and climate change have caused the Colorado River’s water levels to plummet.
Philadelphia to invest $2 billion into upgrading city airports as PHL places last in customer satisfaction
Modernizations to Philadelphia's airports will include baggage system upgrades and a new automated parking garage guidance system.
The LA housing policies making developers turn away from the city
Despite LA’s housing shortage, developers say the city’s "mansion-tax" and pandemic-era policies make it an unappealing place to build housing.
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The bill would also require major cities in California to permit high-rise residential buildings.
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Reinventing Malls: Planning Alchemy—Turning Gray Fields Into Gold
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