Tried to seize the Monarch Resort. I’m usually suspicious of these tax funded humanity projects.
On Oct. 16, FBI and IRS agents arrested 31 -year-old Cody Holmes, financial officer of Shangri-La Industries, on a federal complaint alleging he provided fake bank records to the California Department of Housing and Community Development, which paid him nearly $25 million in taxpayer funds for a state homelessness project dubbed Project Homekey.
And the Coast Weakly thought this was a “Great Thing”.
Remember when Homekey tried to seize the Monarch Resort? Glad P.G. never got mixed up with that.
So the state gives money to developers to convert motels to housing. The housing is built for the ‘homeless’. If the homeless cannot afford California’s high rents, who pays the rent? Then where do all the newly arrived ‘homeless’ people go since they heard there are free homes in California?
The state attorney general Monday took legal action against Southern California developer Shangri-La Industries for alleged violations related to seven homeless housing projects in the state — including four in Monterey County. The lawsuit also names as defendants Salinas and King City, which had agreements with the company to convert motels into permanent housing for the indigent, Between 2020 and 2022, Los Angeles for-profit developer Shangri-La received more than $114 million in state funds from the Department of Housing and Community Development — as part of the agency’s Project Homekey program.