It hasn’t gotten much press lately, but the project that spurred the City of New London, Conn., to take people’s property for the benefit of other private citizens, all to garner the higher property taxes that would result, is foundering:
Faced with a tight lending climate, the Corcoran Jennison company has asked the Federal Housing Authority to back an $11.5 million loan to fund the long-delayed construction of housing on the Fort Trumbull peninsula.
Corcoran Jennison applied for the mortgage insurance last Friday, said Kristine Foye, spokeswoman for the New England Regional Office of the U.S. Department of Housing and Urban Development.
Newsbusters notes that the New London Day newspaper never mentions the name Kelo, or the infamous Kelo vs. City of New London court case that allowed this travesty to take place.
