Virginia Beach bought a house for $275,000. Then the city sold it for $75,000. That’s a shocking loss of $200,000 taxpayer dollars, all in the name of protecting the Oceana Air Station.
A NewsChannel 3 investigation uncovered dozens of lopsided deals like this. The city is spending millions to thin development, but in many cases isn’t making much of a dent. In some cases, the city is spending hundreds of thousands to move one family out of house, and then move another one right in.
Does this make sense with your money? Mike Mather has an investigation tonight at 6 on NewsChannel 3.