Holy flying shingles, Batman, the city was applying for $30 million to help pay for the demolition of 939 vacant residential properties and five vacant commercial properties, but only received “little more than $10 million” plus $22.5 million from the city, $15 million from the federal government, and $2.5 million from the private sector (“Raze the Roof,” Artvoice, July 31, 2008). This adds up to the city receiving $50 million to raze the aforementioned properties.

I know I can’t add, but let’s do the numbers anyway. 944 properties into $50 million equals $52,966 per property. But let’s give the city the benefit of the doubt. Let’s give $5 million for demolishing the five commercial properties. That leaves $45 million. So 939 properties into $45 million equals $47,923 allowed to tear down each of the houses. I’m in the wrong business!

Let’s say that in the private sector demolishing a house costs $15,000—a much more realistic figure. That’s $14.1 million. Leaving $30.9 million. This means you could take the unused portion and build around 475 new homes costing $65,000 each.

Following the theme of the article, that is rebuilding some of the properties, the money received would work wonders on about half of the 939 houses, and give the contracting economy a huge boost.

Somebody has their fingers in a really big honey pot and it ain’t me.

Brian A. Fahey
Akron

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