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Property Dvt. #464980

NBC Evening News for Friday, Jun 09, 1972
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(Studio) So-called planned communities cause complaints, directed to Department Housing and Urban Devt. US Housing and Urban Development holds hearings in 16 cities.
REPORTER: John Chancellor

(Arizona) In Southwest USA, planned communities offer home sites for small down pmts, a few dollars a week (Cochiti Lake, NM) Developers advertize desert land as lake front land when there is no lake yet. (Rio Rico, Arizona) 3 year old Arizona development prospers, but ecologists doubt there is enough water for number people planned. [GAC Properties, Frank STEFFENS - says extensive water exploratory studies made. Says project lies in Santa Cruz River basin which flows, at certain times during year, underground. Says utilities, rds. not installed until pmts. made on lots.] (California City, California) 100,000 acres in Mojave Desert, California City not as well planned as GAC Properties projects. Less than 1% land buyers have built on property. Utilities lacking. 172 property owners sue development for fraud. California law now requires developers to develop what they sell, fully inform buyers. [Arizona Representative Morris UDALL - says Federal government should act on property development]
REPORTER: Fred Briggs

Reporter(s):
Briggs, Fred;
Chancellor, John
Duration:
00:05:40

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