![]() Normally, receiverships pay for repairs and the receiver’s fees by tapping properties’ equity or through proceeds from a property sale or increased rents. Neither Adams nor anyone else has produced an estimate for the full cost to rehabilitate the buildings while continuing to operate them - and where the money to do so will come from. ![]() In prior cases involving Adams, tenants faced the risk of eviction and property owners lost their houses. Mark Adams is overseeing the welfare of 1,500 tenants in Skid Row. Housing & Homelessness Evictions, homelessness, debt: Skid Row Housing Trust receiver has checkered history “The demands placed on the receiver, as it relates to the minimal funding available to address 29 properties, and over 2,000 units (some of which have active tenancies with individuals that are entitled to government benefits and other protections), is verging on the inconceivable,” Adams wrote in the filing. In court documents, Adams provides a litany of reasons for the failures, including a lack of support and funding from city leaders, potential lenders needing assurances they’ll be repaid, and costs that are spiraling far beyond initial projections. The court appointment gave Adams the authority to finance for repairs and upgrades, and once stabilized, to turn the properties over to other affordable housing providers.Īdams has since received approval from Beckloff to borrow $5.3 million - the amount he estimated was needed to finance operations through July.īut Adams has been able to secure only $1.8 million, leaving a cash crunch threatening the receivership’s existence. Nearly 900 units were vacant, deemed uninhabitable or left in such shoddy conditions that public agencies refused to pay rent even though tenants were still living in them. Hydee Feldstein-Soto pushed to put Adams in charge of the trust’s portfolio of century-old residential hotels and newer permanent supportive housing complexes. ![]() In response, Mayor Karen Bass and City Atty. The nonprofit housing provider - the largest in Skid Row - had slashed staffing and maintenance, leaving the buildings in squalid conditions. Click here to view the current “Global Top 100” rankings.Adams was appointed two months ago after years of mismanagement and financial disarray had left the trust unable to pay its bills. To learn more about Crunch Most Valuable Memories and see official sweepstakes rules, visit or .įerrero Group is on the current Candy Industry “Global Top 100 Candy Companies” list. Perfect for sharing and snacking during any sporting event, Crunch is offered in an array of formats including the classic Crunch Bar, Buncha Crunch, Fun-Sized, and Share Packs. Those interested in participating are encouraged to grab any participating Crunch product at select retailers for the opportunity to win thousands of dollars in instant win prizes. ![]() Now through June 30, consumers can enter for a chance to win the ultimate sports experience with a trip to the Championship game of their choice. "Crunch is setting out to make these moments even sweeter and help families continue building these memories for years to come." ![]() "Whether we're cheering on our children as they hit their first homerun in a little league game or sitting on the edge of our seats waiting for our favorite team to score a winning touchdown, these are special family moments that we will cherish for a lifetime," said Amber Hansinger, senior director of marketing for Crunch. ![]()
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