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Downtown Residential Loan Program Cleared: Investigation

By RTH Staff
Published May 29, 2008

The city of Hamilton just lifted the temporary suspension on its downtown residential loans program. It was suspended on May 15 after the Ontario Provincial Police laid criminal charges against program head Gord Moodie for allegedly accepting a bribe from developer Denis Vranich.

The city's corporate services department reviewed the outstanding $6.6 million in program loans following the charges. All the loans were found to be in compliance with the program's policies.

In a press release by the city, Joe Rinaldo, the general manager of corporate services, said, "I am very pleased that the initial investigation has found all monies accounted for."

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