Certain circles of San Diegans are celebrating. The article in the UT San Diego yesterday [Wed. Sept. 19] said it all:
“The San Diego City Council Tuesday unanimously approved two out of three ordinances designed to keep banks accountable for distressed homes.”
The two ordinances passed will arm San Diego with more methods and ways to monitor and hold property owners responsible for abandoned properties, and they also will require banks that conduct business with the city of San Diego to provide information on lending, foreclosures and service to minority communities. The third ordinance will not be discussed until October.
Progressives who worked on these issues are giving thanks to the leadership of Councilmembers Todd Gloria and Tony Young. A broad coalition had come together to apply pressure and the San Diego City Council passed the Abandoned Properties Ordinance and the Responsible Banking Ordinance the same evening. [Read more…]