Barb and Greg are correct that MPHA is looking at purchasing rental property to use for Section 8 housing. It is doubtful that it would be at such a scale to on its own "heat up the market." I think it should be clarified that it is highly unlikely that MPHA will borrow against its properties in order to accomplish this goal. That is a concept that has been examined, but there are other ways MPHA could finance purchase of rental properties, including conventional financing. All of these are ideas that are being bandied about but haven't been set in stone.
In response to Barb's original post on the location of Section 8, I have to come in the defense of the 13th Ward. The utilization of Section 8 vouchers is driven by landlord acceptance. Quite frankly there isn't a whole lot of rental property in the 13th Ward and the property that is rental can probably charge a whole heck of a lot more in private rent than they could by accepting Section 8. Increasing the amount of rental property in the 13th Ward will help drive those numbers up. The question is where does it go? There are few if any vacant lots in the 13th Ward, few areas ripe for redevelopment, and if the Boulevard is any indication, a huge fight on anyone's hands who attempts to provide additional rental housing. It doesn't mean we give up, it just means we need to go in with our eyes wide open. Dean E. Carlson East Harriet, Ward 10 Gregory Luce writes: > Barbara Lickness wrote: > >> Since, many private landlords don't want to >> participate in section 8 anymore, then MPHA can own >> the properties and operate them through their >> scattered site program. Perhaps, the Mayors affordable >> housing task force should look into this possibility. >> The structure is already in place to do this so it's >> one solution that could be launched quite rapidly. > > [GDL] This is actually one of the stated proposed strategies of Mayor Rybak's >90-day plan. His administration has proposed, as a way to get more genuinely >affordable units on the market, that the city borrow against MPHA properties and use >the borrowed funds to purchase properties in the city, thus opening them up to >Section 8 vouchers. Tom Streitz, formerly of Legal Aid but now Deputy Director of >MPHA, is heading up this part of the plan. > > I think Keith Reitman spoke at the January 5 Housing Summit about/against this, >saying that MPHA's entry into the market in purchasing properties may actually heat >up the market further. > > Gregory Luce > North Phillips (work) > > _______________________________________ 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
