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By Andrew Keatts and Scott Lewis, the Voice of San Diego
May 22, 2021
Learning the broker it hired to negotiate a $67 million hotel purchase had first purchased 40,000 shares of stock in the company selling the hotel appears not to have dissuaded the Housing Commission that it got a great deal on the property.
In fact, it's pretty hard to tell the difference between the agency's view of the transaction before and after learning of a conflict of interest that its own legal counsel concluded was likely criminal.
In February, after the Union-Tribune published an article scrutinizing the Housing Commission's purchase of a Mission Valley hotel to combat homelessness during the pandemic, the agency's president and CEO Rick Gentry fired off a letter to the paper defending the acquisition.
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