I would like to applaud Mr. Cullen's redirection of the discussion back to the underlying problem. I think the time has come to look at some other options.
Home Ownership: I would like to see a program where low income people could get their down payment (anywhere from $5,000 to $15,000) paid by the city. This is substantially less expensive than the per unit costs of rehab or new construction under the name of affordable housing. The city could even put a lien against the property for the amount of the down payment. At any point that the title is transferred; refinancing, sale, gift, whatever, the money would be returned to the city and used again to help someone else. I personally believe that the down payment can be one of the biggest hurdles to home ownership. When money is tight, there is no way to set aside the extra that is needed to get into a house. Loans for a down payment just increase the burden even more to those who are already struggling. Rental Housing: I really like the idea of "rent stamps" so that the people who qualify for them can have some kind of meaningful choice as to where they want to live. Another option whould be to allow boarding and/or rooming houses again. This is a very efficient means of sharing space. It offers a home owner, with extra space, the opportunity to get some extra income and provides the renter (especially single people) with a truly affordable option. I lived in a boarding house some years ago and absolutely loved it. Catherine Leighton Live in Longfellow/Work North East TEMPORARY REMINDER: 1. Send all posts in plain-text format. 2. Cut as much of the post you're responding to as possible. ________________________________ Minneapolis Issues Forum - A City-focused Civic Discussion - Mn E-Democracy Post messages to: mailto:[EMAIL PROTECTED] Subscribe, Unsubscribe, Digest, and more: http://e-democracy.org/mpls
