Rezmar deals involving Davis Miner law firm
From:
http://www.suntimes.com/news/metro/353777,CST-NWS-rezside23.article
....
Seven buildings on East 62nd Street in Woodlawn. Rezmar and WPIC closed on this deal in 1996. Rezmar gave up its financial interest in the property and stopped managing the buildings a year ago, amid financial problems and code violations.
• Two buildings, 4001 S. Ellis and 811 E. 46th St. Rezmar and WPIC’s sister agency, the Fund for Community Redevelopment and Revitalization, closed on the deal in 1997, while Obama was a state senator. Rezmar stopped managing the buildings about a year ago, with many of the apartments in need of repair.
• Two buildings — 5630 S. Michigan and 6446 S. Kenwood. Rezmar and the Fund closed on this deal in 1998. The city approved a $3.8 million loan for this project while Rezmar was facing foreclosure on another building funded by the city. Rezmar gave up management of the buildings about a year ago.
That was Rezmar’s last low-income housing deal before the company shifted to building condos and town houses in the South Loop and other booming neighborhoods.
Among the investors in that last Rezmar deal was Davis Miner name partner Allison Davis, who had left his law firm to become a developer of low-income housing. Besides leaving his law firm, Davis also resigned from the board of directors that ran the Fund for Community Redevelopment and Revitalization.
Davis’ development company, American Housing Partners, was to invest $250,000 in Rezmar’s last low-income housing deal, state records show. But state officials say that, in the end, American Housing didn’t participate in the deal.
Tim Novak
Is CHi Crime spreading across the nation all ready?
Federal grand jury ...Obama associate, Bill Richardson
From:
http://www.rlcil.org/2008/12/27/federal-grand-jury-probes-another-obama-associate-bill-richardson/
...Apparently, Richardson gave the sales contract to campaign contributor David Rubin, who gave Richardson $200,000 in campaign cash. In exchange, apparently, according to the news reports, Richardson gave Rubin $1.5 million in bond sales fees. Rubin’s company, CDR Financial Products, is based in Beverly Hills.
Rubin is also said to have paid for Richardson’s expenses when he traveled to the Democratic National Convention. “Richardson has ignored reporters’ questions on the federal investigation, while a spokesman says he’s confident the relationship was entirely appropriate and the governor expects state employees to cooperate fully with federal investigators. ...