July 21 PVT Meeting Notes

Park View Terrace (Mosquito Flats) neighborhood meeting highlights
July 21, 7-9:30 p.m., Iowa City Public Library, meeting room A

I. Presentation on legal options
Steve Klesner, attorney with Johnston & Nathanson and specialist in bankruptcy, made a presentation on options for people facing problems making house payments. He explained and discussed various types of foreclosures, other options such as deeding house back to bank, complications when there are more than one mortgage or liens, possibilities for negotiations with local banks (affirmed by rep from IC Community Credit Union) versus difficulties of getting anywhere with large corporate mortgage-holders, and so forth. He emphasized that each person’s situation is unique and one cannot generalize about these problems or their solutions; also in the current climate of national mortgage crises predicting how lenders will act is even harder. Handout for his presentation is posted.

II. Presentation on neighborhood options
Doug Jones gave a detailed presentation on his scenario for combination of buyouts, street and home elevation and other flood mitigation measures. His materials have been posted.

III. Other
Steve McGuire summarized city’s current thinking—on the order of either we’ll have a Plan A, with buyout offers to everyone, or a Plan B, buyout of some homes along with mitigation, which seems more likely.
Discussions of various other topics: home elevation costs and effectiveness, ordinances, studies, etc.
Brief time on discussing questions for meeting July 29 with FEMA representatives; see those posted, send in more.