'Nut'-house empire

New York Post website ^ | September 21, 2009 | Brendan Scott

[RayChuang88]

ACORN has quietly become one of the Big Apple's biggest owners of low- and moderate-income housing, amassing a real-estate empire worth at least $50 million, The Post has learned.

New York ACORN and a tangled web of affiliates own or manage nearly 1,500 housing units across three boroughs and draw in an estimated $5.7 million in rents, fees and profits from sales.

The properties are controlled by an opaque collection of nonprofits, holding companies and development funds. Many have generic names, like the 385 Palmetto Street Housing Development Fund or the Mutual Housing Association of New York, leaving no clue of their ties to the national ACORN conglomerate.

[Achilles Heel]

WOW—REP Darrell Issa of CA called it a criminal organization. Hope he has this material too.

[greyfoxx39]

Ping

[greyfoxx39]

Ping

[editor-surveyor]

Where do you find all these depressing threads? :o)

[greyfoxx39]

Where do you find all these depressing threads? :o)

Even a blind squirrel finds a "nut" now and then ;)

[Jet Jaguar]

ACORN Ping!

FReep mail me if you want on/off the list.