Puretz Case Update (includes properties 3652 Reading Road & 1006-1026 Burton Avenue in North Avondale)
Just a brief update regarding this case as it continues to proceed. The receiver has submitted a budget to the court for approval. In short, the lender is proposing to put approximately $4.24 million plus the monthly HUD contract payments into the properties in the next eight months. The plan was filed on April 8. The court may approve the budget in ten days if there are no objections. The owners did not indicate in court whether they would object. In the event that they do, the court has set aside May 3 for a hearing.
Aside from the police details, progress by the receiver has been slow, in part due to a conservative interpretation of the receivership order regarding what money may be spent without court approval. I believe Judge Myers straightened out that issue today, so things should loosen. Regardless, in the event that progress continues to be slow in the next several weeks, the City will consider its other legal options to either push the receiver towards compliance or replace her, if the need arises.
Mark Manning, Asst. City Solicitor, City Law Department