In a message dated 12/18/01 11:42:28 AM Central Standard Time, [EMAIL PROTECTED] writes:
<< How would you view the following three examples of planned new housing: 100+ units planned for going up at the corner of Franklin and Portland 76 units very likely going up on Franklin and 15th Avenue 900 units going up over at Near North (now called "Heritage Park") Should we stop progress on these projects to avoid overbuilding? Gregory Luce North Phillips (work) >> Keith says; I would presume that the "nonprofit" developments proffered as affordable housing for low income people will cost a pasha's ransom to build, say in the 120,000-180,000 range with "nonprofiteers" taking incredible fees every whichway from our government tax dollars. I hope Victoria Heller will tell us more about how this is done and who really pays and profits! The for-profit action will get huge subsidies, too. Union labor, mainly white guys from the suburbs and beyond, will build these monuments in our depressed neighborhoods. Mostly bypassing the neighborhood employment/income component, that should be requisite to neighborhood development, will mean inner city residents will miss out on the income needed to live in any market rate monuments. Also called "urban renewal", these developments have, or will, push people out of there existing homes and property and they most likely won't be around for the ribbon cutting, cake eating and move-in experience. The existing property owners, long or short term will be "eminently doomed" through "taking" by eminent domain; they will be paid in old-bad neighborhood dollars right at turnaround time. Great example is MCDA Grain Belt plan, now perhaps quashed, to push out the old timers at government tax-dollar turn around time. After the developers use our public wealth tax dollars to create these monuments, the homes will go on-line into the rental housing market as direct and modern competition to adjacent or nonadjacent existing rental property. Basically, the taxes from property invested in, and held by, small business people called landlord will fund the subsidized competition. As the subsidized competition prevails, attracting the best tenants and longest rent dollars, unsubsidized private investors will be more likely to falter. Some property owners are familiar with your strategies Greg Luce, through Project 504, for separating faltering landlords from their property rights, cash flow and buildings. I suggest we allow a free and open market place to help satisfy our city housing needs and move away from huge socialistic "nonprofit" and expensive monument building and social engineering. I doubt anyone would disagree with me, right? Keith Reitman, Near North _______________________________________ 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
