Big banks have foreclosed on thousands of Phoenicians, leaving in their wake an epidemic of blighted vacant homes. These vacant homes are devastating our communities, costing our city -- and us, the taxpayers -- up to $35,000 to maintain each home and reducing our home values on average by $22,000 each. We can't afford to continue cleaning up the mess that Wall Street banks created in our neighborhoods. Big banks need to take responsibility for these properties!
That's why we support an ordinance that would hold these banks accountable. If passed by the Phoenix City Council, our ordinance would create a registry of vacant homes owned by banks, to make it easier to know who's responsible for the upkeep of these properties. Then, when the banks don't maintain their homes, when they become overcome by trash and weeds and covered by graffiti, the city can cite the banks - just like they would any negligent homeowner - and fine them up to $1,000 for every day they don't clean up the area.
This Tuesday, June 19th, our ordinance is on the agenda for the City of Phoenix Housing and Neigborhoods Subcommittee. This is great news! But, we can't be sure that our city councilpeople will do the right thing and vote for it. High-paid bank lobbyists will be doing their best to kill this ordinance, in order to protect their billion dollar bottom line.
That's where you come in! We need Phoenix residents and our allies to attend this meeting and make our voices heard. Can we count on you? We'll meet at the LUCHA office first for coffee and donuts at 9am, then carpool together to Phoenix City Hall.