Agency fixes up foreclosed homes
Andrew Edwards, Staff Writer
Posted: 07/30/2011 07:11:33 AM PDT

San Bernardino County has terminated its financial relationship with the Inland Empire Economic Recovery Corp., an entity the county government subsidized during the worst of the recession to rehabilitate foreclosed homes.

The organization will continue to exist without county funding, said its Executive Director Robert Hooker.

“We’re self-sufficient now. We’re happy to give them back their money,” he said.

The IEERC, which has offices in San Bernardino, began its existence in 2009 as a public-private partnership with a mission to address the region’s foreclosure crisis.

The group, formed as a nonprofit public benefit corporation, has purchased and rehabilitated 48 bank-owned homes during its existence, Hooker said.

His goal is to have 75 homes on the organization’s score sheet by the end of the year.

San Bernardino County initially contributed $2.5 million to the IEERC to help the organization purchase and rehabilitate foreclosed properties.

The initial agreement between county government and the IEERC was scheduled to end in 2012. The county’s Board of Supervisors, however, voted Tuesday to end the relationship.

Former Second District Supervisor Paul Biane, who represented the Rancho Cucamonga area, was a major supporter of the IEERC when county officials decided to support the organization in January 2009.

Supervisor Janice Rutherford, who defeated Biane in a November runoff, voted alongside Supervisors Gary Ovitt and Josie Gonzales to bring an early end to the county’s relationship with the IEERC.

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