Clarence Mingo, Franklin County Auditor, Talks of Unprecedented Growth
Our guest today was Clarence Mingo, Franklin County Auditor. Mingo is a native of Canton and holds undergrad and law degrees from OSU and is an Army veteran who served in the Persian Gulf War. He has volunteered his legal services to indigent citizens through the Legal Aid Society.
According to the Auditor, Franklin County is in a period of unprecedented growth which is evident in the growth in property values. Post-Great Recession, we experience modest growth in the 2011-2014 period, but in the pervasive property value assessment that was completed in 2017, property values were up 10-60% since 2011. In 2017, a home sold every 30 minutes, and so far in 2018, a home has sold every 56 minutes in the county. Per Mingo, Franklin County is becoming the "jewel of the Midwest" and has the highest bod rating possible and an excellent cash and liquidity position.
With all of this prosperity, it was especially sobering but important to be reminded that 32% of citizens in Franklin can't afford a 2-bedroom apartment, 25% of children live in food insecurity, 28% of Ohioans don't have a bank account, and due to stagnant wages, the working class ($80K per year income) cannot afford to own a $150K home (and our county increasingly does not have homes available in this price range).
Announcement Reminders
The Memorial Tournament Pro Am Day fundraising committee met on Friday and will meet every 3rd Friday of the month at 7AM. We welcome any interested members to join.