8/7/13

Information Request; High Point Bank, Robbie Perkins and Ashley Creek Apartments

"High Point Bank and Trust Co. was the only bidder Tuesday on the Center Pointe condominium owned by Mayor Robbie Perkins...

The bank bid $201,000.

The couple borrowed about $228,000 to buy the unit at 201 N. Elm St...

Perkins filed for bankruptcy in April.

That includes about $206,000 he owes to High Point Bank and Trust on the Center Pointe condo..."

http://www.news-record.com/news/local_news/article_d424c61c-ff0e-11e2-9d94-001a4bcf6878.html
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"City loan will help flooded complex

The city will loan private developers $391,251 to help renovate a dilapidated and flood-prone apartment complex.

[Current lender - High Point Bank and Trust, who is selling the debt on the property at a discount]

...The City Council voted 5-4 this week to give the private developers the low-interest loan to fix up Ashley Creek Apartments, ...where eight buildings have condemned units because of chronic flooding.

Mayor Robbie Perkins brought the issue to the council after one of the investors contacted him.

[Which investor, if the current lender is High Point Bank and Trust?]

“This is not something the city of Greensboro needs to do. ... We are not a bank,” [Zack] Matheny said.

“This private company does not need it, period.”

...The current owners plan to sell it to LSA Ashley Creek Apartments, investors the city said specialize in turning around distressed properties.

[A distressed property with High Point Bank as the lender, who also owns a defaulted mortgage for Robbie Perkins]

http://www.news-record.com/news/government/article_4592b61a-fefb-11e2-b1e7-0019bb30f31a.html
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If this deal is a bail out for High Point Bank, and Robbie's condo is in foreclosure to the same bank, did he have a financial interest in the deal, especially considering his original proposal was to give the money to the developers, which would have greatly benefited High Point Bank and possibly Robbie Perkins?

Who was the commercial real estate agent working on the deal when it first came to council?

If Robbie is a commercial real estate broker, and said he didn't know who the broker for the deal was...?

Should Robbie's vote be annulled?

Did Robbie disclose any financial conflicts of interest before the issue was presented before council?

Did Robbie try to help himself by helping High Point Bank?  The judge said he was purposefully lowering his income to pay less in the divorce.  Is this one of the ways he could have lowered his income? 

How did he purposefully lower his income? 

If he is hiding income, is he paying taxes on the compensation, and where is it originating?

Who is the other bank looking to buy the debt from High Point Bank?

If High Point Bank gets the money from the "investors", how could it not be that the money from the apartment sale wasn't used to purchase Robbie's condo?

Please provide proof of the financial ability to repay the loan of the guarantor, if a major flood takes out 1/3 of what would be a newly upgraded apartment property.

High Point Bank, Robbie Perkins and Ashley Creek Apartments;


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