Rochester for All, the group organized by former Mayoral Candidate Rachel Barnhart, is calling on the city to produce an accounting of all outstanding loans and grants it has awarded to Morgan Management and to DHD Ventures.
The group says it asked for those figures as an open records request but was refused because it didn’t list specific projects. Rochester for All says it’s impossible to come up with a complete list because not all loans are approved by City Council.
The Wall Street Journal says both Morgan and DHD are under federal investigation for mortgage fraud. That paper says DHD has defaulted on nearly $60 million worth of loans in Buffalo and Tennessee. It says Morgan has $45 million in loans at risk of default.
The Democrat and Chronicle has reported that Morgan owes the city $17 million in outstanding loans.