Barbara wrote:
My neighborhood developed several affordable housing
cooperatives in the late 1980's. These cooperatives
were not mixed use and because of the financing
streams available for these perpetually affordable
units, the rents were pre-determined and held to a
certain level.
The problem this created in these developments was
that the rents collected did not offset the costs of
the financing or the operating expenses of the
buildings.
In the eighties, the city rehabed four buildings in the Powderhorn area.
These were for
low income which turned into cooperatives run by a supposedly non-profit.
The non-profit,
in reality, is given grants by the city. The buildings pay one half of the
property taxes assessed
and rents are on a sliding scale with the city paying the rest.
These four buildings have been a source of contention for the neighborhood
for many years. The
good families have come and gone quickly while the druggies held steadfast.
There were several meetings a few years back pertaining to housing along
Hiawatha at 42nd and 46th. There was a clear decision
that the housing should be mixed development with low income/fair market.
Knowing what has happened along the block in
Powderhorn, I believe Sandy made the right decision.
Dorie Gallagher
Nokomis
REMINDERS:
1. Be civil! Please read the NEWof RULES at
http://www.e-democracy.org/rules. If you think a member is in violation,
contact the list manager at [EMAIL PROTECTED] before continuing it on the
list.
2. Don't feed the troll! Ignore obvious flame-bait.
For state and national discussions see:
http://e-democracy.org/discuss.html
For external forums, see: http://e-democracy.org/mninteract
________________________________
Minneapolis Issues Forum - A Civil City-focused Civic Discussion - Mn
E-Democracy
Post messages to: mailto:[email protected]
Subscribe, Un-subscribe, etc. at: http://e-democracy.org/mpls
REMINDERS:
1. Be civil! Please read the NEW RULES at http://www.e-democracy.org/rules. If
you think a member is in violation, contact the list manager at [EMAIL
PROTECTED] before continuing it on the list.
2. Don't feed the troll! Ignore obvious flame-bait.
For state and national discussions see: http://e-democracy.org/discuss.html
For external forums, see: http://e-democracy.org/mninteract
________________________________
Minneapolis Issues Forum - A Civil City-focused Civic Discussion - Mn
E-Democracy
Post messages to: mailto:[email protected]
Subscribe, Un-subscribe, etc. at: http://e-democracy.org/mpls
