Quote:
Originally Posted by anon1
This may sound like a naive question, but in terms of displacement, what would happen to the other group of people currently living in Bushwick. Do they simply get removed and sent packing? I've never heard of this topic so can you explain a little further thank you.
P.S.- I didn't finish reading the original link before,didn't have time that's why I was just wondering if you could mention the specifics of your proposed idea. thanks
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I guess the way to do it is to find weedy lots or empty commercial bldgs, tear those down, etc. IDK but it's a good question. Y'know I am seeing the City has tons of programs and the links below are just a sample meaning there are more. The one that's closest to 50/50 is the last one, quoted.
LAMP (http://www.nychdc.com/program/LAMP.htm - broken link)
80/20 (http://www.nychdc.com/program/80-20.htm - broken link)
Taxable 80/20 (http://www.nychdc.com/program/Taxable80-20.htm - broken link)
New HOP (http://www.nychdc.com/program/NewHOP.htm - broken link)
Mixed-Income (http://www.nychdc.com/program/Mixed-Income.htm - broken link)
Quote:
Mixed-Income
Through HDC's award-winning 50/30/20 program, 20% of the apartments in a multi-family rental building are restricted for low-income tenants, 30% are reserved for middle-income tenants and the remaining are rented at market rates. This structure, the only one of its kind in the City, allows us to provide a deeper level of affordability across many different economic levels. HDC uses the proceeds from the sale of tax-exempt bonds to make first position mortgages and also uses its corporate reserves to make 1% second mortgage loans.
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(Funny it says "award winning". Who gave the award?)
Up in the Bronx, the darling program seems to be LAMP but some of the others are used too, along with some not linked above such as HWF (Homes for Working Families) and LIHTC (not sure what this one is). As another poster convincingly said in another thread re: the Bronx:
Quote:
Originally Posted by ecoartist
what makes a [building] possible is the acquisition cost. The only reason why these [buildings] came up from the ground in the Bronx compared to Harlem is because affordable housing developers managed to negotiate a [lower] purchase price [per buildable foot]
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