Friday, August 19, 2011

Resident Says City of LO is Devaluing Our Property!

To all COLA LO Members,

An article by an LO resident this week claims that the City of LO is devaluing all of our property.    The article provides an example where the city council says one thing and then does another when purchasing property.   In the Article Bob Thompson states that the city claims it does not devalue property with its ordinances and then when buying a property claims the restrictions on property do not justify a price.   The author specifically cites an exchange with Councilor Donna Jordan on this contradiction.  

Could this be one reason LO property values continue to decline?

Are the city's land use restrictions arbitrarily reducing our property values to promote other projects?  Its an interesting concept worth further review.

The article can be found at:  Visit Site - City Ordinances Devalue Property
To see a video where Councilor Jordan admits this visit the web site in the article: 

Please notify all contacts, members and friends.  

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