didnt do something with the homes and property that not up to code. he said it was a choice of pumping their own money into property site improvements and additional money to bring the home up to code or tear down the 16 homes.
smith said the bank is not in the building or land development business and because of the current housing market does not see anything happening with the property for at least five years. our only option is to either proceed with putting more than a million bucks into the land, which weve already taken a huge hit on and lost a lot of money, or, we tear 