Coral Springs is one City Commission decision away from entering the housing business.

The U.S. Department of Housing and Urban Development has offered the city a chance to enter the housing business. Mayor Scott Brook believes it is an idea worth pursuing, but his colleagues on the commission think differently.

The city has been allocated $3,378,142 by the department through its neighborhood stabilization program (NSP). The money is to be used to address the effects of abandoned and foreclosed homes. The funds can be used in five ways, including purchase and rehabilitation of such homes and residential properties.

“I’m OK with the city being in the housing business," Brook said. "We already have real estate in Coral Springs. I like the idea of selective purchase of abandoned homes. We will have to spend some money to maintain them, but the market will turn around.”

The city should stay out of the housing business, City Manager Mike Levinson said. “We are not a housing authority; we are not in that business. We can acquire and renovate foreclosed homes but where are the buyers going to come from? There isn’t a market out there. There are carrying costs associated with the properties.”

Vice Mayor Vince Boccard agreed with Levinson. “This is not something I want Coral Springs to be doing. If we are buying houses, we might end up not being able to sell them. I think it is going to be at least two years before the housing market turns around. “It will be good if we can use the money to maintain foreclosed homes in the city.”

It is not the role of a city to be a landlord, Commissioner Roy Gold said. “In the market we are in now, I wouldn’t recommend being in the housing market. I think it would be a great negative. But $3.3 million is a lot of money. We should get as many dollars as we can without putting Coral Springs at risk.”

The last date to apply for the program is Dec. 1.