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Ithaka Land Trust supporters seek state investigation of nonprofit's sales of housing for the poor | News


Esther Kisamore and Bill Sulzman, long time Ithaka residents, outside their homes.
Pam Zubeck
A group of former board members of Ithaka Land Trust has asked Attorney General Phil Weiser’s office to investigate the nonprofit’s recent sales of nearly half its 21 properties to one chosen developer at prices below market value, while loaning $555,717, interest free, to the same developer on some of those sales.
The transactions represent a radical departure from Ithaka’s original mission, when established in 1981, to care for the poor and provide permanent low-income housing.
Attorney Jennifer Gilbert, with GPS Legal Solutions of Denver, says in her May 5 letter some of Ithaka’s actions — all under the leadership of Ithaka director Anjuli Kapoor, hired in October 2017 — might constitute violations of Colorado law, as the ....

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Founders call for state investigation into housing provider, Colorado Springs approves nonprofit-backed plan for new housing complex


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The Colorado Springs City Council approved demolishing former El Paso County buildings along Union Boulevard across from Memorial Park to make way for a new affordable housing complex. Founders of Ithaka Land, a partner in the proposed complex, are questioning some of its recent real estate deals among other concerns and asking the state to investigate.
Mary Shinn, The Gazette
Steve Handen, a former Catholic priest who started Colorado Springs first soup kitchen, is the founder of a columbarium, where the ashes of those who died on the streets are buried. He is among those who is questioning Ithaka Land’s recent decisions and asking the state to investigate. ....

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