It was not just Don Samuels making those wonderful statements about
listening to Neighborhoods. It was also Lisa Goodman and some others. Like
I said before, I needed some time to get my jaw raised enough to shut my
mouth.
Perhaps the Council is seeing how valuable and important Neighborhoods
really are and how important affordable homeownership is. Those same
Council Members made some wonderful statements about affordable
homeownership. Don Samuels in particular about bringing the advantages of a
homeownership culture to the "original Americans" who are poor. "Affordable
homeownership", Neighborhood responsiveness, and crime in "Impacted
Neighborhoods" WILL be the hot button issues in the next City election.
Some "Real" numbers on affordable housing will show why affordable
homeownership will be an issue and is the answer for attacking poverty. The
City of Minneapolis has subsidized building a huge number of multi-unit
"affordable" rental housing. So much so that it now threatens the quality
of privately owned non-subsidized rental housing.
The numbers:
1. The median income used for housing purposes in Hennepin County and
Minneapolis is $75,300.
2. According to MHFA guidelines those who qualify for "affordable housing"
and tax-credit financing are:
a. for a one-bedroom apartment - $719.00
b. for a two-bedroom apartment - $862.00
c. for a three-bedroom apartment- $1196.00
Income limits for a family of four is $46,020
Income limits for a family of six is $53,400
These are the rents from poor people? Does anyone now wonder why the
organizations such as Sherman and PPL want to build large multi-unit
apartment buildings that are financed and paid for using our taxpayer
dollars? They pay little or nothing for the building and then charge rents
such as these for "affordable housing". My question is AFFORDABLE TO WHO?
Lets now compare this to affordable homeownership using the same guidelines
and average using Realtor guidelines.
a. If your family income is $46,020 you qualify to buy a home selling
for $149,465
b. If your family income is $53,400 you qualify to buy a home selling
for $244,700
At MHFA guidelines for affordable housing:
c. $719 per month (cost of one bedroom apartment at affordable rate)
will buy a $120.00 house
d. $862 per month (cost of two bedroom apartment at affordable rate)
will buy a $144.00 house
e. $1196 per month (cost of three bedroom apartment at affordable rate)
will buy a $200,000 house
All the above figures are based on 6% interest on a thirty-year loan. The
interest rate quote I received this morning as I type this was 5.92%. The
figures will change if interest rates change, but they will not change to
greatly. A "guaranteed loan" program such as the neighborhoods wanted to do
with NRP dollars earlier this year would make those costs per month even
lower. The technology is there to build high quality housing with three
bedrooms for less than a one-bedroom "affordable" apartment costs. When
will we start to support people and not development companies and
Non-Profiteers?
There are quality, wonderful non-profits trying to help people. Those are
the ones looking at building a future for poor people not taking advantage
of them. Those are the organizations that are looking to build affordable
homeownership. Carolyn Olson's GMMHC and Gordan Thayer's American Indian
Housing are organizations that attempt to change lives and futures, not
"maintain" people in poverty.
What the neighborhoods have identified as the present shortages in housing
is "Affordable Homeownership" and "Senior Housing". We must start
addressing our real present needs and plan for the future. NOT planning for
the hot issue that scared the politicians four years ago. Our County and our
City needs leadership that addresses those housing needs with OUR affordable
housing dollars. STOP financing the projects that may make friends rich but
that neighborhoods tell you they do not want nor need.
Jim Graham,
Ventura Village
>"There is no finer investment for any community than putting milk into
babies, families into homes, or revolution into minds."
REMINDERS:
1. Think a member has violated the rules? Email the list manager at [EMAIL PROTECTED]
before continuing it on the list.
2. Don't feed the troll! Ignore obvious flame-bait.
________________________________
Minneapolis Issues Forum - A City-focused Civic Discussion - Mn E-Democracy
Post messages to: mailto:[EMAIL PROTECTED]
Subscribe, Un-subscribe, etc. at: http://e-democracy.org/mpls
