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Old 01-27-2012, 09:56 PM
 
339 posts, read 556,821 times
Reputation: 569

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Quote:
Originally Posted by UpsonDowns View Post
JColtrane -
Gee, developers get HUGE tax breaks to build middle and low-income housing. They get to build taller, bigger and get all sorts of concessions. The OP is not mooching off of taxpayers.
Exactly. I really get tired of the constant ranting against people who have the temerity to be poor and perhaps need assistance. From some of the grouches on this board, you'd think anyone who sent their kids to public school was some kind of freeloader!
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Old 01-28-2012, 05:56 AM
 
Location: NY,NY
2,899 posts, read 8,311,795 times
Reputation: 2021
Quote:
Originally Posted by UpsonDowns View Post
JColtrane -
Gee, developers get HUGE tax breaks to build middle and low-income housing. They get to build taller, bigger and get all sorts of concessions. The OP is not mooching off of taxpayers.


First, there is NO tax break which can allow for $600 1 bdrm apts in this city.

Second, a little homework would aid you in comprehending the circumstance.

For example, developers can receive concessions in order to build taller and/or bigger, in order to receive the concessions, they either have to build with 'set backs' whi@h allows for greater air and light to the street; or, they build with the building line set back significantly from the legal building line, again allowing for more light and air, as well as open space at the street level.

For such concessions and other similar, builders are generally allowed to build taller.

****

Regarding tax breaks,

Builders DO NOT receive HUGE tax breaks!!!

What some receive are relative tax concessions which, if the builder is efficient, can virtually guarantee a profit.

Of course, this relates to so called 'affordable housing', and virtually all such 'for profit' developers specialize in this area of the market.

It is a give and take proposition. In the average case, an affordable housing developer exchanges *maximizing* profit for a lessor *guaranteed* profit.

Such developers are granted one or more, or a combination of tax concession, land concessions, direct grants, etcetera, in order to reach a certain cost point which makes the project profitable for the developer and affordable for tenant or buyer.

NOW, here's the part that you appear to be TOTALLY confused and aware, frankly ignorant!

ALL tax concessions, land concessions (where government provides virtually free land to a developer), direct grants, etc. come at TAX PAYER expense! It is taxes which are either NOT paid by the developer and/or are tax revenue paid directly to the developer.

Tax "breaks" are NOT free!! They are direct subsidies to the occupants of subsidized housing!!

Also, please note, Donald Trump doesn't build subsidized housing, neither does the likes of Larry Silverstein. Affordable housing developers are generally fourth or fifth tier developers, and while none are poor, none are billionaires either!

Lastly, at least 50% of affordable housing is build by 'not for profit' developers, foundations and charitable organizations who forego profit in order to reach cost points to create affordable rents and prices. These organizations ALL receive Grants and other concessions from government and charities.

So again, occupants are being subsidized!

****

The reality in this city is that there are NO $600 1 bdrm apts for rent, anywhere!!! which are not subsidized.

So please dispense with the notion that tax breaks are HUGE, and some sort of bonanza for developers. It simply is not the case.

If it were you would see subsidized tax break housing going up on Park Avenue next to the Waldorf, but that is not happening.

If tax breaks were so HUGE and incentive, then NYC's housing shortage problems w/b solved, and there w/b affordable housing being built on every available scrap of land cause the profit w/b HUGE, and everyone w/h a $600 1 bdrm apt.

Alas, that is not the case....
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Old 01-28-2012, 07:51 AM
 
Location: Manhattan
20,159 posts, read 26,453,489 times
Reputation: 9034
Sounds like an 80/20 deal that bases rent increases on the Rent Stabilization rate.
Rent stabilization system has no limits on apartment size or family composition...nor does it require annual recertification.

Usually a parent with a OPPOSITE SEX child can have 2 bedrooms (or a Junior 2.)
The rules on family compositiviion and # of bedrookms are silly and Puritan-based: two strangers get ONE bedroom but a brother and sister get TWO, becasue of Victorian fears that a brother and sister might inadvertantly spawn a three headed monster if they shared a bedroom.

I guess Women with boy-children are presupposed to want sex with the child if allowed to sleep in the same room... go figger!


Congrats YoungLove, on finding one of the rare bargains in the City
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Old 01-28-2012, 05:05 PM
 
Location: No Sleep Til Brooklyn
1,413 posts, read 4,675,455 times
Reputation: 591
JColtrane - I've been keeping my eye on or applying to various 80/20, LAMP, etc. and I can tell you that a multitude of builders use the loan guarantees/grants/tax concessions/etc. to build low and middle income housing.

Yes, there are tons of non-profits building subsidized housing. And thank goodness Trump isn't. Have you been in any of his buildings beyond the lobbies? The construction can be appalling for what people pay to live in those towers.
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Old 01-28-2012, 05:53 PM
 
2,252 posts, read 4,315,539 times
Reputation: 3709
Outside of having 40x the rent and good credit, I've never heard of there being differing qualifications for a particular size rent stabilized apartment or re-certifying income every year outside of an assistance program.

Not trashing the OP if they are in need of assistance, just saying that I've never heard of this type of arrangement with a "regular" RS apartment building.
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Old 01-28-2012, 08:25 PM
 
669 posts, read 1,037,122 times
Reputation: 368
Ugh Jcoltrane in here with his extreme right wing super pure capitalistic views. Govt assisting the less fortunate is a good thing in my opinion. Jcoltrane I bet you live a decent comfy life regardless of your ta money helping these ppl, yet you'd rather have a few more dollars in your pocket even if it means families going homeless or hungry thats terrible imo.
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Old 01-30-2012, 11:41 AM
 
8,750 posts, read 15,562,759 times
Reputation: 4168
This is simply a matter of the new affordable housing. For example, a new affordable housing development has brand new 1 bedroom apts for $891 a month in Brooklyn if you earn exacty between $29,760 - $34,380, and meet other credit, household size criteria. http://www.nyc.gov/html/hpd/download...g-brooklyn.pdf

What this person has is nothing spectacular....just another subsidized development. Not sure why she is bragging though...in order to qualify you have to be near poverty level and live off tax payers....what exactly is to brag about???? It's no different than being on Section 8 and bragging your portion of the rent is only $200. That's a very sad mentality.
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Old 01-30-2012, 11:55 AM
 
Location: Queens
155 posts, read 349,693 times
Reputation: 99
I'm in a rent-stabilized apartment and I pay market rate.

Just thought i'd throw that out there.
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Old 01-30-2012, 12:55 PM
 
346 posts, read 403,490 times
Reputation: 674
I thought it was at least a reasonable thing to ask where the apartment is....

"None of your business" doesn't tell us too much.
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Old 01-30-2012, 06:19 PM
 
2,503 posts, read 3,522,782 times
Reputation: 1906
Quote:
Originally Posted by JoeyQueens View Post
I'm in a rent-stabilized apartment and I pay market rate.

Just thought i'd throw that out there.

And how does it make you feel that your downstairs neighbor who has the same size apartment and who's been living in the apartment for 20 years pays half of what you do? Talk about unfairness. Welcome to the ugly world of Rent Stabilization!
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