Evening journal., 1922-02-18
WOULD PROTECT
HOME BUYERS

As result OF visit 10 Wash
ington, made yesterday by william
n. Budd. secretary or the Chamber
OF Congress. changes probably will
be made IN the terms OF sale for
The Union Park Gardens properties
TO provide greater safety for ten
ants who may desire TO buy In their
homes or for any reputable syndi-
cate, local or out-of-town. which
may seek 20 take over the entire
war village"
Numerous requests have been
made to Fred H. Gawthrop. presi-
dent Of the Chamber OF Commerce.
in favor OF changes in the terms OF
the sale. which ls now set for week
from next Monday. or February 27.
As a result Mr.. Gawthrop assigned
Secretary Budd 20 take up the qucs-
| ton with officials OF the United
states Shipping Board. and It's sub
sidiary. the Emergency Fleet Cor
porauon. which holds title to the
| Gardens
II Is contended that under the
/ present sale terms. opportunity r.
/ NNANAfM AWN AAN ~NN ~NAANNAA anu NiA~
scrupulous syndicates 20 make bids
for the Gardens as a whole and sell
| of properties later for such pur-
poses as would be undesirable from
a residential viewpoint and would
lower the standard Of the Gardens
as colony OF homes.
one clause. it is held, has been
literally soaring people from bid
ding This provides that II within
80 days after the sale and a syndi-
Gates gets the whole Gardens. any
tenant will have the option OF buy
Ing the property he may occupy
from the syndicate az the price paid
by the syndicate. plue ten per cent
While this clause was designed
to protect buyers. It has been point
ed out that It offers loophole
through which a designing person
could acquire such a property In a
block. turn Il into a livery stable,
garage or chicken farm and depre-
ciate the value OF the entire block.
on the other hand a tenant feels
unsafe In bidding for the property hs
now occupies because Of a fear thai
under the clause stated his own
home would be jeopardized by sale
of nearby properties for undesirable
purposes.
Secretary Budd was accompanied
to the Offices in Washington Of th'
United states shipping Board and iti
subsidiary. the Emergency Fleet Cor
B poration. which holds title 10 The
, Gardens. by United States Senator
p T.. Heisier Bail. They were received
by a. n. Lascar. chairman of f'
- Shipping Board and w. W Powgl
s president Of the Fleet Corporation
and conferred at length on the SIT
uation.
- After explanation has been mad
Of the flaws In the terms Of the sail
as now drawn. the government Of
fclals assured Senator Ball am
70 Secretary Budd that they would TAX
- stens AZ once TO protect an inter
y ests The means OF giving this pro
+. lection will be put up 20 the lega
q department. An arrangement ma
- he made by which an individui
s purchase will give successfl
J., syndicate the privilege Of buyin
Il back his property bought. befoi
so;ling It TO any outside party
y this way Il is expected, residents
. THE Gardens will be protected froi
II Intrusion OF undesirable trades q
J., persons and the values OF the
u homes protected from depreciation
with proper safeguards throw
about the sale, IL is understood tina
4 u N.aHIH % =
will bid for the Gardens as a who'll
N subject Of course TO restriction
l which will give the present tenant
opportunity TO buy in their ow
p homes.