Times: Hercules buys condo from councilman’s daughter

— by Jeffrey Wisniewski — 31 December 2009 — 1 comment below »

The city could use some more community meeting space… “According to records furnished by the city, the redevelopment agency spent $123,971 to acquire the condo of Adelyn Jill A. Balico [Councilmember Ed Balico's daughter], on Devonwood in the Village Park section, in a short sale; a grant deed was recorded with the Contra Costa County Recorder in late September. A sale price of $120,000 reported in real estate industry records appears to be net of closing costs. Industry records also show Jill Balico bought the condo in January 2006 for $412,500, with a $362,500 first mortgage from a bank and a $50,000 loan from the redevelopment agency, although neither her name nor the address of her condo appear on First-Time Homebuyer and other loan lists that the city provided to the newspaper in October.“

One comment so far …

  1. # annonymous commented on 27-Nov-10 @ 8:51pm

    whats wrong if a council memberrsdaughter or any member of his family buy a house her dad is a good provider

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