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HUD-Backed Real Estate Magnates Host Obama Fundraiser

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Unread 06.12.12, 12:24 PM
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HUD-Backed Real Estate Magnates Host Obama Fundraiser

On 06.12.12 09:18 AM posted by Lachlan Markay

President Obama will attend a fundraiser on Tuesday at the home of real estate developer who has directly benefitted from financial support by the federal government.

Josh and*Genine Fidler will host the president at their Owings Mills, MD, home during the president’s Tuesday swing through Maryland and Philadelphia. Guests will pay up to $50,000 to attend. It will be one of six*fundraisers*the president attends on Tuesday.

The Fidlers have contributed nearly $200,000 to Democratic campaigns since 2008, according to the Baltimore Sun. Genine Fidler has bundled at least $200,000 for the Obama campaign.

The Fidlers run Maryland-based Chesapeake Realty Parters, which has benefitted from taxpayer support through the Department of Housing and Urban Development:
Chesapeake has relied on construction loans that are insured by the Federal Housing Administration, which allows the company to receive lower interest rates. Chesapeake has two projects under way that have received the support and has been associated with at least 10 others, according to the U.S. Department of Housing and Urban Development.

The Fidlers are two of nearly two hundred major Obama supporters to receive support in some form from the federal government since he took office.

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