In The News

Brockton eminent domain group has packed to-do list

By Alex Bloom

Enterprise Staff Writer

BROCKTON — The city’s eminent domain working group has a packed agenda as it considers a strategy to use government authority to take mortgage notes from national banks to help city homeowners. The group, led by Councilor-at-large Jass Stewart, met Wednesday for the first of multiple meetings to consider the eminent domain idea, which would put Brockton at the forefront of trying to combat the effect of the national foreclosure crisis. Using eminent domain to seize mortgage notes, which contractually bind residents to pay back homeowner loans, would be a novel but legal use of government authority, according to group members. “We all think of eminent domain as grabbing another person’s property to expand a road,” said Grace Ross, a group member and the coordinator of Massachusetts Alliance Against Predatory Lending. Ideally, the city would use its power of eminent domain to take the mortgage note of a resident in need of refinancing from a national bank and transfer it to a lender interested in helping the resident refinance the loan, preventing possible foreclosure. The effort could potentially improve the housing market in a city that routinely leads the state in having the most distressed properties per capita. But while the group agrees the new way of using eminent domain would stand up to legal challenges, it has to consider multiple aspects of how to put the strategy into place, including: Choosing which mortgages to target Choosing which homeowners should be helped Finding financing for compensating the banks holding the mortgages Finding homeowners eligible for state and national refinancing programs Deciding how much to compensate the national banks that hold the mortgages, which in many cases are more than the house is worth “Either the law is going to be on our side or it’s not,” Ross said of the strategy. “The argument comes over valid fair market value for a mortgage.” Ross prepared a working paper for the group’s first meeting and estimated that the city could target about 2,300 mortgages that are tied to national banks that packaged the mortgage debt in complicated financial deals. Councilor-at-large Thomas Brophy, a group member, staked out opposition to any strategy that would cost the city money. “If it’s going to cost the city one dime, I’m not going to support it,” Brophy said. The group also talked about the potential for the banking community to oppose the effort, as has happened in other communities considering the same idea. Stewart would also like to have a banking community member as part of the group. Mayoral candidate Ron Matta, in attendance at the meeting, expressed his opposition to the idea, pointing to potential legal and lending problems. “If we set the precedent of employing eminent domain against lenders in the city of Brockton, who will lend to us in the future?” Matta said in a statement he gave to The Enterprise. The group plans to produce both a strategy and a dissenting opinion for consideration by May. The group is scheduled to meet again March 7 to hear from multiple lawyers about the strategy. READ MORE about this issue. The city’s eminent domain working group has a packed agenda as it considers a strategy to use government authority to take mortgage notes from national banks to help city homeowners. The group, led by Councilor-at-large Jass Stewart, met Wednesday for the first of multiple meetings to consider the eminent domain idea, which would put Brockton at the forefront of trying to combat the effect of the national foreclosure crisis. Using eminent domain to seize mortgage notes, which contractually bind residents to pay back homeowner loans, would be a novel but legal use of government authority, according to group members. “We all think of eminent domain as grabbing another person’s property to expand a road,” said Grace Ross, a group member and the coordinator of Massachusetts Alliance Against Predatory Lending. Ideally, the city would use its power of eminent domain to take the mortgage note of a resident in need of refinancing from a national bank and transfer it to a lender interested in helping the resident refinance the loan, preventing possible foreclosure. The effort could potentially improve the housing market in a city that routinely leads the state in having the most distressed properties per capita. But while the group agrees the new way of using eminent domain would stand up to legal challenges, it has to consider multiple aspects of how to put the strategy into place, including: Choosing which mortgages to target Choosing which homeowners should be helped Finding financing for compensating the banks holding the mortgages Finding homeowners eligible for state and national refinancing programs Deciding how much to compensate the national banks that hold the mortgages, which in many cases are more than the house is worth “Either the law is going to be on our side or it’s not,” Ross said of the strategy. “The argument comes over valid fair market value for a mortgage.” Ross prepared a working paper for the group’s first meeting and estimated that the city could target about 2,300 mortgages that are tied to national banks that packaged the mortgage debt in complicated financial deals. Councilor-at-large Thomas Brophy, a group member, staked out opposition to any strategy that would cost the city money. “If it’s going to cost the city one dime, I’m not going to support it,” Brophy said. The group also talked about the potential for the banking community to oppose the effort, as has happened in other communities considering the same idea. Stewart would also like to have a banking community member as part of the group.

Mayoral candidate Ron Matta, in attendance at the meeting, expressed his opposition to the idea, pointing to potential legal and lending problems. “If we set the precedent of employing eminent domain against lenders in the city of Brockton, who will lend to us in the future?” Matta said in a statement he gave to The Enterprise.

The group plans to produce both a strategy and a dissenting opinion for consideration by May. The group is scheduled to meet again March 7 to hear from multiple lawyers about the strategy. READ MORE about this issue. Read more: http://www.enterprisenews.com/topstories/x1893338324/Brockton-eminent-domain-group-has-packed-to-do-list#ixzz2MUK2baBu

Brocktonians For Limited Taxation-Arnone School Meeting-Ron Matta-Richard Zacarro-Kate Archard

Tax Episode of An Outside View

Tax episode of An Outside View. Hosted by Dick Zaccaro and guests Kate Archard and Ron Matta.


 

BLT MEETING

The next meeting of the BLT will be January 16, 2013 7P.M. at the Arnone School. Please attend the meeting so we can start to prepare for next years City's budget and help get our Great City back on the road to Success.

Ron Matta

Water deal draining Brockton coffers

BROCKTON —

Now, the city’s top lawyer is asking the water and sewer departments to determine if Aquaria might be violating its 20-year contract with the city, signed in 2002.
“We are in the process of gathering information from the relevant departments as to whether or not there is a basis to believe there’s a violation of the contract,” said City Solicitor Philip Nessralla Jr.
The inquiry could lead to Brockton hiring an independent legal firm to look into the terms of the contract.
“We’d like to bring resolution because we know it’s some concern to some city leaders as well as city residents,” said Nessralla, adding Mayor Linda Balzotti backs the inquiry.
Ward 2 City Councilor Thomas Monahan said having an outside law firm look into the contract makes monetary sense.
“Just to cover everything, we should have an outside firm look at it that covers these complex contracts and make sure we’re doing everything,” Monahan said.
Mayoral candidate Ron Matta, an organizer for the Brocktonians for Limited Taxation, would like to see the city get out of the Aquaria deal.
“They all think it’s an ironclad contract,” Matta said.
“If (city departments) feel there’s nothing wrong with the contract, then we will keep pressing until they do something about it,” Matta said.

Read more: http://www.enterprisenews.com/topstories/x1671797235/Brockton-s-top-lawyer-looking-into-Aquaria-contract#ixzz2FKyVqvtc

Brocktonians for Limited Taxation

JOIN YOUR FELLOW RESIDENTS AT BROCKTON CITY HALL

 The City Council is going to vote on the tax increase on Monday December 3, 2012 @7P.M. in council chambers.Those wishing to oppose the increase should go to the meeting and let them know that they object to the increase.They can also request to speak if the council receives a written request.

Ron Matta

JOIN YOUR FELLOW RESIDENTS AT BROCKTON CITY HALL TO OPPOSE THE PROPOSED 2013 TAX INCREASE!

DECEMBER 3, 2012 - 7PM - 45 SCHOOL STREET, BROCKTON, MA

If you wish to speak at the meeting please send a written request to:

Anthony Zeoli City Clerk

45 School Street, Brockton, MA 02301

For more information please contact:

Dick Zaccaro

Brocktonians for Limited Taxation

617-543-0034

BROCKTONIANS FOR LIMITED TAXATION

The following is on the website WWW.BROCKTONIANSFORLIMITEDTAXATION.COMPlease click on the following links below to find out more information. If you are interested in joining the group please follow the website. 

To discuss our strategy...

 Meeting on Friday - November 16th - 7pm

40 Industrial Boulevard, Brockton, MA, 02301 (Please use side door)

Hope to see you there!

Have you had enough of high taxes in the City of Brockton? Join us in our protest by becoming a BLT (Brocktonian for Limited Taxation)

Do you know that the City of Brockton already has one of the highest residential and commercial tax rates in the entire state?

Do you know that the City Council is planning on voting for another residential tax rate that will put us close to $17 per thousand on your assessed property value when the state average is only $12.55 per thousand?

Do you know that the City of Brockton is paying almost $500,000 a month to the desalination plant and not using the 3 million gallons of water being produced daily?

Do you know that the City of Brockton is spending close to $500,000 a year from the hotel tax to fund the Brockton Rox that are losing money every year when that money was earmarked to fix up our roads?

Do you know that Stonehill College is only paying a portion of their usage of the City of Brockton's sewerage system tie-in and the Brockton Rox owe over $75k in past due water bills while the City of Brockton is placing liens on ordinary tax paying citizens who have disputed water bills that may be erroneous due to faulty water meter readings?

Do you know that over the last ten years the City of Brockton has only lowered our assessed property valuations two times and not nearly reflecting the accurate depressed market values of our homes in this bad economy?

Do you know that the City of Brockton has yet to pay millions of dollars to fund the unfunded pension liability for City of Brockton workers?

Taxpayer advocate says City of Brockton health insurance deal not so sweet.

Do you know that the City Council refused to vote on minimum qualifications for department heads that oversee millions of dollars?

Do you know that the City of Brockton has 245 employees earning over $100k a year?

If you didn't know these important facts then you need to join our group and become a Brocktonian for Limited Taxation immediately for a better City Government that is held accountable by the people calling for Limited Taxation!

Brocktonians for Limited Taxation

Brocktonians for limited taxation is having a meeting on November 16,2012 @7P.M. at 40 Industrial Way.WWW.BROCKTONIANSFORLIMITEDTAXATION.COM

Ron Matta on an Outside View with Dick Zaccaro