Investors lose despite city official's `guarantee'

investors, who collectively poured nearly $4 million into the Sandra Fay development, had bought into a lie. Florida City's former housing director, Matthew Price II, who had ''backed'' the project, was apparently trying to reward a developer who had given him the down payment on a house.

Before construction was completed, the project went bust.

Price was sentenced Friday to 30 months on federal conspiracy charges to commit fraud.