Political patronage pays off.

Frank Sanchez, who was nominated by President Obama to be the Undersecretary for International Trade at the U.S. Department of Commerce, doesn't need a paying job. His dozens of investments in residential property in Florida are enough to support him with a comfortable living. According to his financial disclosure report, Sanchez owns the mortgages on about 50 residential properties in Florida that paid him a total of between $156,000 and $445,000 in interest income last year.

Sanchez would oversee an agency with a budget of $450 million next year. ITA also houses the "manufacturing czar" position created by President Bush. That position remains vacant, as well as the one it reports to, the assistant secretary for manufacturing and services.

Sanchez, a lawyer and former CEO of a failed steel construction company (Renaissance Steel) in Florida, has not yet been confirmed for the Commerce job, though he was nominated in April. Questions have been raised about a $500,000 loan Renaissance Steel received from the U.S. Department of Heath and Human Service's "Administration for Children and Families." The loan, provided to the company through the Corporation to Develop Communities of Tampa, was given to Renaissance Steel "to grow a business that specializes in providing manufactured light gauge steel frames and components parts for commercial housing construction," according to the grant description from HHS. The company was supposed to buy equipment and use the money as working capital. The grant notice said that Renaissance would use the loan to create 105 jobs, adding that the "funds to be leveraged: $2,448,125."

A spokesman for the Department of Health and Human Services on July 15 said that the agency's Office of Community Services is investigating what was promised and what was delivered "to make sure the terms of the grant was fulfilled." The company went out of business.

Sanchez is no stranger to Washington, D.C. He worked in the Clinton administration on the White House National Security Council, and in the State Department and Office of the U.S. Trade Representative. He became assistant secretary at the Department of Transportation. Sanchez was an early Obama supporter and did not endorse Hillary Clinton in her bid for the presidency.

During the fall 2008 presidential campaign, Sanchez served in the Obama for America Campaign as policy advisor on Latin America. Obama named Sanchez to be the "national chair of Latino and Hispanic fundraising," according to the Tampa Bay Business Journal. Sanchez served as co-chair of the Obama Hispanic Leadership Council, which worked with the campaign's finance team to raise money. "Frank will play a key role in reaching out to Latinos about our campaign's vision to unite our country and expand our growing enthusiasm in the Latino community," said Obama in a press release in March 2008. There is no mention of Sanchez's role as a campaign fundraiser on the White House Web site.

The Hispanic community was elated upon the announcement of Sanchez's appointment to a top position in the Commerce Department. The National Council of La Raza said that it is "pleased" that the Commerce Department will have a "leader who understands the broad array of domestic and international issues facing our country and our community. Including the 2010 Census" (though the ITA has nothing to do with the controversial census count).

Sanchez received a master's degree in public administration from Harvard. He ran unsuccessfully for mayor of Tampa, Fla., in 2003.

Here is Frank Sanchez's financial disclosure form as provided by the Office of Government Ethics:

Business Income/Salary:

* Akerman Senterfitt Law Firm, Tampa, Fla., $52,000 (salary)

* Cambridge Negotiation Strategies Inc., $45,000 (business income)

Compensation in excess of $5,000 paid by one source:

* CM Partners (consulting services; conducted negotiation skills workshop)

* TECO Energy (conducted negotiation workshop for company)

* Akerman Senterfitt (business development)

* Merial (conducted negotiation workshop for company)

* Renaissance Steel (worked as CEO of the company)

* Cambridge Negotiation Strategies (worked as managing director)

* Estafan Enterprises Inc. (business consulting services)

Assets worth between $500,001 and $1,000,000:

* Residential Rental Property, Tallahassee, Fla. (provided income of between $15,001 and $50,000)

* Residential Rental Property, Washington, D.C. (provided income in 2008 of between $15,001 and $50,000)

* Undeveloped property, St. George Island, Fla.

* Mortgage to Mark Frisbee, Ruskin, Fla. (provided income in 2008 of between $15,001 and $50,000)

Assets worth between $250,001 and $500,000:

* Residential Rental Property, Cambridge Mass. (provided income in 2008 of between $15,001 and $50,000)

* North Star Bank, stock and warrants (2,500 vested, 5,000 unvested)

* Top View Ventures LLC (Tampa, Fla.), Residential Property Rental (provided income in 2008 of between $2,501 and $5,000)

* Deposit on Investment Condo, IndianRock Beach, Fla.

* Mortgage to Robert A. Faedo, Tampa, Fla. (provided income in 2008 of between $5,001 and $15,000)

* Mortgage to William Calder, Morristown, Fla. (provided income in 2008 of between $15,001 and $50,000)

* Mortgage to Steven Tyer Schaefer, Dade City, Fla. (provided income in 2008 of between $5,001 and $15,000)

Assets worth between $100,001 and $250,000:

* CitiBank Bank Deposit Program (IRA) cash

* Mortgage to Sarah Carte, Winter Garden, Fla. (provided income in 2008 of between $2,501 and $5,000)

* Mortgages to Brenda Joyce Heldreth, Jomosssa, Fla. (provided income in 2008 of between $2,501 and $5,000)

* Mortgage to Jay Minteer, Tampa, Fla. (provided income in 2008 of between $2,501 and $5,000)

* Mortgage to Fred Morales, Arcadia, Fla. (provided income in 2008 of between $5,001 and $15,000)

* Mortgage to Seewchand Sahdeo, Tampa, Fla. (provided income in 2008 of between $5,001 and $15,000)

* Mortgage to Michael Teate, Lady Lake, Fla. (provided income in 2008 of between $5,001 and $15,000)

* Mortgage to Mauricio Dominguez, St Tampa, Fla. (provided income in 2008 of between $2,501 and $5,000)

* Mortgage to Darian Marshall, Brookesville, Fla. (provided Sanchez with income in 2008 of between $5,001 and $15,000)

* Mortgage to Gary Coole, Springhill, Fla. (provided income in 2008 of between $5,001 and $15,000)

* Mortgage to Gary Steven Duren, Keystone Heights, Fla. (provided income in 2008 of between $5,001 and $15,000)

* Mortgage to Thomas Farrell, Cocoa, Fla. (provided income in 2008 of between $5,001 and $15,000)

* Mortgage to Katrina Harder Jones, Tampa, Fla. (provided income in 2008 of between $1,001 and $2,500)

* Mortgage to Keith Radke, Lecanto, Fla. (provided income in 2008 of between $201 and $1,000)

* Mortgage to Bridgit Shaw, Brandon, Fla. (provided income in 2008 of between $2,501 and $5,000)

* Mortgage to Cherie Grant, Pembrook Pines Fla. (provided income in 2008 of between $1,001 and $2,500)

* Mortgage to William Harper, Brookesville, Fla. (provided income in 2008 of between $2,501 and $5,000)

* Mortgage to Donald Hoey, Indian Rocks Beach, Fla. (provided income in 2008 of between $2,501 and $5,000)

* Mortgage to Jay Minleer, Tampa, Fla. (provided income in 2008 of between $2,501 and $5,000) Assets worth between $50,001 and $100,000

* Mortgage to Dominick Desiderio, New Port Richey, Fla. (provided income in 2008 of between $1,001 and $2,500)

* Mortgage to Vicki Lee, Pensacola, Fla. (provided income in 2008 of between $1,001 and $2,500)

* Mortgage to Jay Minteer, Tampa, Fla. (provided income in 2008 of between $2,501 and $5,000)

* Mortgage to Robert Washburn, Arcadia, Fla. (provided income in 2008 of between $1,001 and $2,500)

* Mortgage to Dave Sands, Venus, Fla. (provided income in 2008 of between $2,501 and $5,000)

* Mortgage to Isaac Wilson, St. Ocala, Fla. (provided income in 2008 of between $2,501 and $5,000)

* Mortgage to Mary Bearfield, Tampa, Fla. (provided income in 2008 of between $1,001 and $2,500)

* Mortgage to Chuck Rogers, Florahome, Fla. (provided income in 2008 of between $201 and $1,000)

* Mortgage to Seewchand Sahdeo, Tampa, Fla. (provided income in 2008 of between $1,001 and $2,500)

* Mortgage to Rockey Templeton, Punta Gorda, Fla. (provided income in 2008 of between $1,001 and $2,500)

* Mortgage to Kenneth James Worthington, Springhill, Fla. (provided income in 2008 of between $201 and $1,000)

* Mortgage to Denise Ball, Floral City, Fla. (provided income in 2008 of between $1,001 and $2,500)

* Mortgage to Grady Burkell, Jacksonville, Fla. (provided income in 2008 of between $1,001 and $2,500)

* Mortgage to Patricia Felser, Florahome, Fla. (provided income in 2008 of between $1,001 and $2,500)

* Mortgage to Frederick Gould, Newport Richey, Fla. (provided income in 2008 of between $1,001 and $2,500)

* Mortgage to James Harbert, Marianna, Fla. (provided income in 2008 of between $1,001 and $2,500)

* Mortgage to Frederick Kiefner, Homosassa, Fla. (provided income in 2008 of between $1,001 and $2,500)

* Mortgage to Isaac Adam Nash, Tampa, Fla. (provided income in 2008 of between $1,001 and $2,500)

* Mortgage to Charles Barnes, Tampa, Fla. (provided income in 2008 of between $1,001 and $2,500)

* Mortgage to Michael Richard Stewart, Crystal River, Fla. (provided income in 2008 of between $1,001 and $2,500)

* Mortgage to Jeffrey Weeks, Sebring, Fla. (provided income in 2008 of between $1,001 and $2,500)

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