fbq return

Landlord Josh Bruno presses fight to reclaim complexes | Courts

Cypress Park and the other properties that Bruno placed in bankruptcy still have some tenants. They include Forest Park, Liberty Park and Washington Park on the city’s east bank, and the 45-unit Riverview apartments in Kenner.







NO.oakmont.042922_116.JPG

Ashonta Hoffman said the pool at Oakmont Apartments in Algiers used to be beautiful and clear when she first moved there. It’s now full of algae and mosquitoes on Thursday, April 28, 2022. (Photo by Chris Granger | The Times-Picayune | The New Orleans Advocate)




All of them are now managed by a trustee appointed by Grabill last summer. Grabill has set hearing dates over the first two weeks of April to air the competing plans before deciding to approve Bruno’s reorganization or liquidate.

The fight is over control and management of properties that advocates claim Bruno ran into the ground while attempting to illegally evict some tenants during the height of COVID.

Fannie Mae, the lender, pushed in 2021 to foreclose, claiming Bruno failed to make timely payments on his notes. Bruno alleges that Fannie Mae duped him while he was working out a forbearance.

In Thursday’s court filing, Bruno says he aims to repair, renovate and redevelop

Read the rest

Flood insurance hikes will drive 1 million people from market, FEMA report says | Business News

ST. LOUIS — When questioned by members of Congress, the Federal Emergency Management Agency said its new update to the nation’s flood insurance program will prompt more people to sign up for coverage, even though many will pay more for it.

But in a FEMA report obtained by The Associated Press under the Freedom of Information Act, the agency estimates 1 million fewer Americans will buy flood insurance by the end of the decade — a sizable number of people at risk of catastrophic financial loss.

As climate change drives increased flood risk in many parts of the country, FEMA has updated its flood insurance program to more accurately reflect risk, but also make the program more solvent. It’s a response in part to criticism that taxpayers were funding big payouts when coastal mansions in risky locations flooded.

But nine senators from both parties expressed “serious concerns” about the new pricing system in a letter last September, after hearing that the agency’s internal numbers predicted policies would drop off by 20%. The next month FEMA told the AP those figures were “misleading” and “taken out of context” and that on the subject of how many people will be insured “there

Read the rest