Thursday, June 18, 2015

How Could This Happen?

Quaker Apartments on Prairie Ave. in Wilmington, has for many years, received government subsidies in order to cover rental costs for low income senior citizens and handicapped persons.
Over the years a client waiting list for admittance has guaranteed a full capacity situation.
For unexplained reasons the facility has become a financial disaster as indicated by the amount of delinquent property taxes of $83,000 as of 6/1/15. See:
This facility is thought to be indebted to the city for more than $200,000 resulting from a loan made sometime in the past. When asked at a recent council meeting concerning this never mentioned deal, the city auditor responded by stating that “they had written off the loan”.
It is my understanding that there are ongoing negotiations to resolve the debt but public information is hard to come by on this matter.
The present listed manager of the property for the owners, Quaker Apartments of Wilmington Inc., is SKW Management. This firm also manages the other Quaker associated senior apartments on Prairie Ave. commonly known as Prairie View ($152,000 delinquent tax) and Friendly Center ($117,000 delinquent tax).
As of this posting SKW is listed by the Better Business Bureau as no longer in business”
It is unknown by me that if a Quaker Apartments bankruptcy occurs the city will be able to obtain a debt settlement.
The loan in question came from the city's revolving loan fund that is used as a small business development tool and repayment history has been good except for this secretive affair.

Paul Hunter  

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