Hey, a question for Cara and/or others: It seems the biggest obstacle to establishing a CLT is the same that dogs any other housing proposal: capital. Where do you get the capital to purchase land, rehab a property, build a new one, etc.? I suspect the same as anywhere else but would love to hear about how PRG/Seward and others involved in the Minneapolis effort are approaching this.
Also, commenting on myself: Gregory Luce wrote: I'll wager my most treasured knick knack that most families, in an incredibly tight market or in a distressed neighborhood (or both), would take affordability and ownership anyday over wealth-building through home equity, if that was the ultimate choice. ------ To whom shall I send my 1977 autograph of Muhammad Ali, signed on the back of my dad's personal check? I think I should have said that most low-income families would take home-ownership sooner (through a CLT) than a fading hope for home-ownership later when the market or their circumstances may finally allow them to purchase. Push comes to shove, I bet most folks would prefer outright traditional home-ownership with the potential to build more significant equity that way. Gregory Luce North Phillips (work) North Phillips Press is a publication of Project 504, a housing related neighborhood organization based in the Phillips neighborhood. _______________________________________ 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
