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March 27, 2014 at 6:12 AM

A lifetime philanthropic award for Naveen Jain from Bellevue LifeSpring?

Naveen Jain, co-founder and chief executive officer of Intelius Inc., speaks during an Executives Club of Chicago luncheon in Chicago  in 2010. (Photo by Tim Boyle/Bloomberg)

Naveen Jain, co-founder and chief executive officer of Intelius Inc., speaks during an Executives Club of Chicago luncheon in Chicago in 2010. (Photo by Tim Boyle/Bloomberg)

Bellevue LifeSpring, which will hold its annual luncheon on Thursday at Meydenbauer Center, is a nonprofit that works to feed, clothe and educate children and their families. The people it serves sound a lot like the investors who lost their life savings in InfoSpace, a Bellevue company founded by Naveen Jain.

At the Thursday lunch, LifeSpring will give its Lifetime Philanthropy Award to Naveen and his wife Anu Jain. Anu Jain serves on LifeSpring’s board of directors. The award goes to people “working toward the betterment of the community,” according to Trish Carpenter, president and chairwoman of LifeSpring’s board.

The shareholders of InfoSpace may choke over that description of Naveen Jain. He is the founder and former chief executive officer of that Bellevue company, which has since been renamed Blucora.

Jain became a billionaire after he took InfoSpace public and the stock price skyrocketed. The only problem was that the company’s revenues were an illusion — a product of accounting tricks and dubious deals woven together by Jain’s masterful storytelling. He claimed in 2000 that InfoSpace would become the world’s first trillion-dollar company.

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Comments | Topics: bellevue, business, nonprofit

October 3, 2013 at 7:00 AM

Boardinghouses and Bellevue’s affordable housing shortage

A few irate neighbors in Bellevue don’t like pop-up boardinghouses on their street. The Bellevue City Council’s response so far is to consider an emergency ordinance to cap home occupancy to four unrelated roommates, according to this Monday Seattle Times news report.

They should think carefully about this. If giant, gargantuan homes and visions of “Animal House”-style neighbors is the problem, then city leaders ought to first consider revising design standards before these buildings go up in the first place. Single Family The Three

Limiting the number of people who can live under one roof could aggravate the Eastside’s shortage of affordable housing. To understand the problem, click on this link to see a helpful infographic by the Housing Development Consortium, a King County advocacy organization.

The boardinghouse boom is a response to local demand. Bellevue College  is converting to a four-year school. Students and low-to-moderate-income workers in the area cannot afford to live in the current housing market. Those who do often end up paying more than the standard 30 percent of their income on housing and utilities.

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Comments | Topics: affordabe housing, bellevue, city council