The inflation of the term "affordable" has been the bane of the housing campaign rhetoric. Recall if you will the tensions between the Affordable Housing Task Force and the then City Council related to the parameters of this term and for that matter think back to the thrust of the City Council's and MPHA's initiatives in the mid-nineties that were laying the city's resources on the 80% MMI market segment and calling that good on the "affordable" front.
There have been two applications in the world of percentages: one setting aside a small percentage, usually 25% or maybe 20% - I haven't been following this very closely lately - for the "affordable" slice, and then placing the "affordable" benchmark at 50% or in the case before the Council this morning, at 60% of metro median income. I give Sherman Associates credit for doing their best with these percentages. That's better than the earlier 80% escapades and reflects what is apparently feasible in assembling capital resources and looking ahead to cash flow requirements. But I agree with Bill Cullen that it is a dilatory use of precious public money at the still elevated percent "affordable" when the regular housing market is so soft and the neighborhoods involved are so very cross about what's being proposed. Council Member Samuels has quite properly put his marker down contra the River Run package and MICAH would be well advised to take a hard look at their policy underpinnings. Fighting for "affordability" that requires large chunks of scarce public dollars for such anemic outcomes isn't doing anybody much good! Fred Markus, Ebenezer Tower, Ward 8 for now, maybe 6 later --- Outgoing mail is certified Virus Free. Checked by AVG anti-virus system (http://www.grisoft.com). Version: 6.0.516 / Virus Database: 313 - Release Date: 9/1/2003 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
