Friday, August 24, 2007

Buddy Johnson, Hillsborough Election Supervisor, Has Million Dollar Debt

After he finishes some painting and fixup, he will be moving into a dilapidated, 884-square-foot frame home at the end of a dirt road.
Buddy Johnson, Hillsborough elections supervisor continues to make headlines. Johnson, tongue lashed by County Commissioner Brian Blair for wasting money; helped in earlier deals by County Commissioner Al Higginbotham; and called out for partisan outsourcing has a lot of business deals.

To finance the purchases of a luxury condo and land for a new home, Hillsborough Supervisor of Elections Buddy Johnson has since December signed for four mortgage loans totaling $1.372-million — more than 10 times his salary. Here's a look at the changes in Johnson's holdings:
2815 CHERRY TREE LANE: This 1,949-square-foot, three-bedroom, two-bath home in Plant City, built last year and valued by Johnson at $385,000, was sold this month for $285,000.

UNIT 102, RIVO AT RINGLING CONDO, SARASOTA: Johnson purchased this 13th-floor condo in December. He paid 5 percent down on the $476,800 unit and signed for two mortgage loans totaling $452,907. Johns says the condo is leased, but that appears to violate an agreement he signed with the lender to use the condo only as a second home.

19.98-ACRE TRACT OFF THONOTOSASSA ROAD: Under the corporate name Fort Bully East, Johnson bought this parcel near Plant City in March for $800,000. He used a $520,000 loan from the sellers and a $400,000 bank loan for the purchase. Last month, Johnson filed a plat for the tract, naming it Oak Creek Estates and revealing his intention to subdivide it into six lots. Johnson says he is moving into the small, decades-old clapboard home at the rear of the tract and that $1,000 worth of work ought to make the place habitable. He says he has no plans to develop the land or sell the lots.

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