It’s not just one thing.
https://finance-commerce.com/2019/08/mi ... e-effects/
Subsidized and/or Affordable Housing
-
- IDS Center
- Posts: 4673
- Joined: July 21st, 2013, 8:57 pm
- Location: Where West Minneapolis Once Was
Re: Subsidized and/or Affordable Housing
Denmark is not happy with Blackstone acquiring huge swaths of housing and raising rents.
https://finance-commerce.com/2019/10/bl ... ent-rents/
https://finance-commerce.com/2019/10/bl ... ent-rents/
-
- IDS Center
- Posts: 4673
- Joined: July 21st, 2013, 8:57 pm
- Location: Where West Minneapolis Once Was
Re: Subsidized and/or Affordable Housing
Manufactured homes have always had a rough go in the twin cities. A few parks at the fringes are trying to expand and are being fought.
https://www.startribune.com/mobile-home ... 569077962/
https://www.startribune.com/mobile-home ... 569077962/
-
- IDS Center
- Posts: 4673
- Joined: July 21st, 2013, 8:57 pm
- Location: Where West Minneapolis Once Was
Re: Subsidized and/or Affordable Housing
The Elliot Twins received funding for renovations, with commitments to not displace existing residents.
https://www.startribune.com/minneapolis ... 571280332/
https://www.startribune.com/minneapolis ... 571280332/
-
- US Bank Plaza
- Posts: 731
- Joined: March 4th, 2016, 7:55 am
- Location: Oh, no, the burbs!
Re: Subsidized and/or Affordable Housing
That’s good, but this seems suspicious:
“The agency opened itself up to the private funding through the federal Rental Assistance Demonstration program, which transfers ownership of public housing buildings to a private entity. The private investors qualify for tax credits.”
How does that benefit society? What happens when a future administration or Congress removes those tax credits? Residents will be displaced as rents go up without a tax credit. It seems like a scam.
“The agency opened itself up to the private funding through the federal Rental Assistance Demonstration program, which transfers ownership of public housing buildings to a private entity. The private investors qualify for tax credits.”
How does that benefit society? What happens when a future administration or Congress removes those tax credits? Residents will be displaced as rents go up without a tax credit. It seems like a scam.
-
- Wells Fargo Center
- Posts: 1150
- Joined: November 12th, 2015, 11:35 am
- Location: Minneapolis
Re: Subsidized and/or Affordable Housing
RAD is just the latest in a long line of Rube Goldberg machines that the federal government sets up to direct private money to fund affordable housing. With RAD, the public housing agency maintains 99% ownership of the property, even if 99% of the funding is private, so there's not actually privatization.
It is extremely ridiculous, but it's also the system we have right now. Housing authorities are in a spot where these tax incentive schemes are the only way that they can fund repairs to deteriorating properties. In a sane world, the government would fund it directly. If 2020 has proved anything to you, we do not live in such a world.
It is extremely ridiculous, but it's also the system we have right now. Housing authorities are in a spot where these tax incentive schemes are the only way that they can fund repairs to deteriorating properties. In a sane world, the government would fund it directly. If 2020 has proved anything to you, we do not live in such a world.
Re: Subsidized and/or Affordable Housing
Will Stancil wrote a pretty good Twitter thread explainer on RAD last summer.
Joey Senkyr
[email protected]
[email protected]
Who is online
Users browsing this forum: No registered users and 1 guest