Advertisements

The St Louis Contrarian

Providing Independent and Intelligent Insight on St. Louis Public Policy Issues

Archive for the tag “affordable rdable housing”

Increase in High End Rental Housing

A recent article has described an unfortunate condition. High end housing is finding lower rents due to an increase in volume. Low Income Housing has received an increase in rents due to a lack of volume. This is not good. Written by Paul Dribin

Advertisements

Community Development Subsidies in St. Louis

Community activists are outraged by TIFs , tax abatement, and other forms of development subsidies in St. Louis. There is justification for these beliefs. Another development subsidy which is more pervasive is more damaging. This takes place with the development of affordable housing where block grant funds are used to subsidize the difference between development costs and ultimate sale price of a house. Back when I worked on loan to the city I saw numerous examples of developments that cost $300,000 and sold for $100,000. Block grant funds were used to write down the development cost in the hope these properties would stimulate community development. They rarely did, but aldermen thought they would. Where is the accountability for this disaster of a policy. Worse these policies are still continuing today. Written by Paul Dribin

Post Navigation