County Commissioner Adkins

Mr. Adkins is very confused as to who is the blame for the economic downturn in Hernando County. He uses the word we when indicating who is the blame and I quote “We are all to blame. At the end of the day, we have to deal with the reality of the boom and the bust.” The last time I looked I did not sell any homes or financed them to unqualified borrowers. Why, are the people of Hernando County the blame for the actions of those realtors and mortgage brokers and mortgage companies who perpetrated this injustice and who profited from these transactions in spite of these peoples ability to buy and pay for these homes?

 

Mr. Adkins states that he has enlisted Mr. Ingoglia to assist in the development of this program because who else can help draft the program and help provide a solution to the problem. I quote Mr. Adkins “If we were having an economic crisis in manufacturing, wouldn’t it be wise to enlist a manufacturing expert?” The above analogy Mr. Adkins uses is incorrect for two reasons, first a manufacturing expert attempts to create efficiencies in manufacturing from an observers perspective not as a participant in the operation. Secondly, a manufacturing expert does not provide the resources necessary to create the product.  Mr. Ingoglia is a home builder with inventory and a Mortgage Banker who provides financing.  Mr. Ingoglia’s stated intentions may be admirable but, if that’s not a conflict of interests what is?

 

Finally, the program as outlined is a flipping scheme for investors to turn a profit after 2 years of ownership. The key word in the plan by Mr. Adkins and Mr. Ingoglia is “Second Home”. Our tax dollars can be put to a better use.

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