Just a quick note about all the apartment vacancies
and how this is being ignored by elected officials who are so
willing to subsidize our politically connected developers.
The Met Council has told the city of Mpls to anticipate
26000 new households in the next 28 years 26000 / 28 = 929
households per year...Yet in spite of high vacancies, 3900 are
or will be built in the next year.
Almost all are sweetheart deals $120,000 to $255,000 per unit
to build $50,000 to $70,000 Units.
I am a private affordable housing provider who provides
units at $595 per month or less, and with all the unnecessary, unneeded,
overbuilding I cannot pass along the 24.3% tax increases that I and other
owners have received.
I predict taxpayers will face triple tax increases in the next 10 years
and the private housing providers will slowly diminish.
Help is needed to get the message out that $595 apartment rent
'with expenses paid' is better than the $1050.62 needed per month
to pay the principal and interest on an $150,000 Apartment 'without
expenses paid.'
Mel Gregerson CAPS
Private Affordable housing provider since 1960
East Whittier
----------------------------------------------------------------------------------------------
Well, I'd like to think that the political leadership of Minneapolis
has not forgotten the risks inherent in social engineering, and that
in their rush to build tens of thousands of affordable housing units,
they manage to respect the vulnerabilities of the city's poorest
neighborhoods....
Paul Weir
Phillips
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