Durham Will Spend Nearly $2 Million to Help Homeowners Left in a Lurch by a Bankrupt Developer

Durham Will Spend Nearly $2 Million to Help Homeowners Left in a Lurch by a Bankrupt Developer

After a heated debate Monday night, Durham City Council members narrowly approved spending more than $2.16 million—of which $1.8 million will come from taxpayers—on improvements in the Ravenstone and Stone Hill Estates subdivisions, after the subdivisions’ developer, MacGregor Development, left that infrastructure unfinished.

The city will now pay 85 percent of the cost of repairing roads and adding stormwater drainage; in a 6–1 vote in 2015, with Mayor Bill Bell dissenting, the city council had agreed to pay only 50 percent, with the homeowners paying the rest.

Council members Steve Schewel, Jillian Johnson, and Charlie Reece opposed the decision.

“I do think that the people in the neighborhood had a risk, like we all do, when they moved in that they took a risk just like we all do when we buy a property,” Schewel said.…

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