I am not a fan of renewing this type of levy. The gross mis-management by the city makes this method ineffective.
Ft Lauderdale Mortgage
In New Jersey we have a huge fund to each municipality. It is called COAH.
The cities collect approximatly 1.5% of the gross sale price of new homes and now commercial developments. This is used to subsidize affordable housing projects. They also grant higher density projects to developers, in cities that don't provide a scheduled addition to afforable housing. the develper gets to create more density while providing affordable units. This program is a major program state wide, to satify a lawsuit in Mt Laurel New Jersey. The suit was to balance for prohibitive zoning for lower and moderate income residence.
It has broaden over the years to be a expensive burden on new developments, which include single property spot lot homes, knockdown rebuilds.
So the amount of money spent in Seattle for affordable housing is a small price compared to New Jersey.
Also borne by the broad population not individual home builder and buyers.
The City of Seattle's Department of Housing is perhaps the rarity--it is not mismanaged nor does it spend a huge amount on administration. Over the better than 25 years that the Seattle voters have supported a tax on themselves to fund mixed-income housing, there has been no scandal or misappropriation, no audit or accusation of fraud or mismanagement of funds. In addition, our levy funds help leverage, usually to a 1:3 ratio, other sources of money--private equity, federal dollars, grants and commercial loans. I hope the Seattle voters prove as big hearted and generous as they have in the past, and agree to vote for the levy. This is a renewal with a modest increase, and even those like me who have lost their job in the past year, support this program. Not all of us can be software engineers (lack of ability, lack of interest), the income currently necessary to afford housing in our beautiful city. Residents of Seattle are phenomenal--we vote for our parks, we vote for our Pike Market renovations, and we also vote in favor of creating space and place for all. Robin Amadon, Seattle, Wa.
Hi
The comment is given by Donna Kimura is awesome he did a lot of research work on that.I appreciate his work.
Good work Donna
Galla
Attorney Directory
this kind of levy is not what we need to have right now
va loan
Ah Socialism at its best and the overwhelming altruistic banter about how great it is to have others pay for the housing of those "less fortunate". Here's an idea! You can't afford to live in a city, don't settle there. It worked for our ancestors.
Hey Mark Richards, I dont think it is that simple to blanket the whole project as a socialist experiment. Show some compassion.
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