By the way, Alan Arthur, while we have you on-line. Why should we be
financing developers like yourself, to build units of what you call "affordable
housing" for astronomical sums; then hugely subsidize your tenants to live
there?
Let us simply subsidize there rent in market built/market rate housing, and
get rid of the cost of you, the middleman, and your overpriced developments?
Let subsidized renters be involved in the market place for market driven,
used, housing that is readily available. Readily available as thousands of new
housing units are being created all over the metro area for people with money
and credit. As ample income people move up, wonderful housing opportunities are
available to those with less money; and even NO money. Why do we need you to
develop new housing with public money? There is no shortage of available used
housing; in fact there is a glut. The market works, if market participants are
not siphoned away with whopping double subsidies to you, and yours.
Finally, if we subsidize the builder (you), and the tenant, why the hell
should you own the property? Why not have your renters as the collective
owners?
Wouldn't that collective ownership create wealth for poor folks using the
public nickel (multimillions), instead of just for you, and yours?
I just do not understand why public money should support you on both ends;
and not the market place on, simply, one end: renter subsidy.
Keith Reitman NearNorth
Alan Arthur, President, Central Community Housing Trust, said:
"Actually, Central Community Housing Trust (CCHT) and most other affordable
housing non-profits actually DO pay property taxes on their affordable housing.
The MN law that provides for non-profit property tax exemptions specifically
excludes nearly all affordable rental housing from the exemption. Central
Community Housing Trust pays property taxes on ALL of its affordable housing,
and will pay nearly $1 million in property taxes and assessments in 2005."
Alan Arthur
President, Central Community Housing Trust
aarthur at ccht.org
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