I agree with you about *existing* rental housing. The affordable housing crisis that we are experiencing is due, in part, to the lack of construction of *new* rental units that are financed to allow for affordable rents to low income people.
David Wilson Loring Park On Fri, 4 Jan 1980, mel wrote: > > > ---------- > From: mel[SMTP:[EMAIL PROTECTED]] > Sent: Friday, January 04, 1980 2:28 AM > To: '[EMAIL PROTECTED]' > Cc: 'David Wilson[[EMAIL PROTECTED]]' > Subject: [Mpls] Property tax cut or increase > > Why do non-profits or politically connected developers need > $120,000. to $255,000. to build a $50,000. apartment? > Both ask for and normally receive unnecessary grants, subsidies, etc. > > What rules are different for them? > Where is it written that they must take so many tax dollars for a long > list of fees etc. ? You would think that the non-profits could build for > less? > You asked why I call myself an affordable housing provider? > Because my average rent is $320. less per month than the monthly > principal and interest payment on their apartment unit. > A $120,000 loan at 7.875% interest for 25 years requires a payment > of $916.27 dollars per month. Plus $346 Per apt month for expenses. > Theirs is subsidized rent, mine is affordable rent. > > Wouldn't it be cheaper to give out rent stamps (like food stamps) > and let people have a choice where and how they wish to live? > This would eliminate wasteful costs and give a level playing field to the > private housing providers. > > > > > _______________________________________ > Minneapolis Issues Forum - A Civil City Civic Discussion - Mn E-Democracy > Post messages to: [EMAIL PROTECTED] > Subscribe, Unsubscribe, Digest option, and more: > http://e-democracy.org/mpls > _______________________________________ Minneapolis Issues Forum - A Civil City Civic Discussion - Mn E-Democracy Post messages to: [EMAIL PROTECTED] Subscribe, Unsubscribe, Digest option, and more: http://e-democracy.org/mpls
