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Next, Mayor Karen Bass appointed Ben Rosen, Director of Real Estate Development, to the same board at Kevin Murray’s request
(So now the homeless nonprofit CEO is telling mayor Karen Bass who else to appoint to be in charge of giving our homeless money, and she’s doing it)
Weingart raked in $100 million in just one year (It pays to be close with Karen Bass)
A big chunk of that money comes from California’s Homekey Initiative:
California has dumped nearly $4 billion into Homekey Initiative but:
- 71% of properties vacant
- Multiple fraud cases
- One developer charged $2M on his personal Amex for things like Coachella tickets
But instead of shutting it down, they expanded it with Homekey Plus.
Naturally the nonprofit friend of Karen Bass The Weingart Center wants some of that new money
Weingart wanted $37 million to turn a 122-room hotel into permanent housing.
They’d pocket $2+ million in developer fees and got a sweet deal with ongoing subsidies
Here’s where some fraud comes in
The property was valued at just $10M - 21M, not the $30M they wanted. They wanted to pocket $10 million dollars of taxpayer money
Luckily public backlash killed the deal, but that’s not where it ends
The Weingart Center tried to convert a Cheviot Hills nursing home using $26 million in Homekey funds.