Nice that the city has so much money to spend on the Hill. (Pittsburgh: section 8, credit)

[gg]

City to revamp Hill District's Addison Terrace

Great to see we are in such wonderful financial shape to spend $160 million on this section 8 stuff. Where does all this money come from?

[caroline2]

More Section 8! Hooray! Because that's worked so well.

[raubre]

The article says...

Residents will be invited back to the community as it is rebuilt over six to eight years, said Mr. Meachem. Those that lived there the longest will get first dibs, and able-bodied residents will be required to work.

After eight years wouldn't you already be settled into a new home by then?

[BrianTH]

Originally Posted by h_curtis

Great to see we are in such wonderful financial shape to spend $160 million on this section 8 stuff. Where does all this money come from?

You answered your own question. HACP is a municipal corporation formed under the United States Housing Act of 1937. Section 8 is comprised of a series of amendments to that Act. Funding for such projects comes from a variety of sources, but it is mostly federal appropriations and tax credits.

[BrianTH]

Originally Posted by caroline2

More Section 8! Hooray! Because that's worked so well.

The Section 8 programs could be improved, but it is infinitely better than the projects approach.

[BrianTH]

Originally Posted by raubre

After eight years wouldn't you already be settled into a new home by then?

The percentage of people who take the opportunity to return does tend to be pretty low in projects like this.

[Lobick]

Originally Posted by h_curtis

City to revamp Hill District's Addison Terrace

Great to see we are in such wonderful financial shape to spend $160 million on this section 8 stuff. Where does all this money come from?

Simply put, the money comes from The United States Bureau of Engraving and Printing, which is a division of the Department of the Treasury.

The desire to spend the money comes from empathy for the poor and a variety of studies that suggest homelessness is bad.

All joking aside, so far the city is talking about spending a little over 8 million to get rid of the last vestige in this City of a well intentioned but ultimately tragically disproved model of public housing. I would think that much of the additional funding would come from sources outside of the City, namely federal money.

This seems to be very similar to the plan instituted under Mayor Murphy to raise the Alliquippa Terrace and replace them with what ultimately became the Oak Hill development in Oakland. If you've driven through there recently, I think it's a great idea.

[UKyank]

It's a good thing then that the federal government is flush with money to spend.

[wpipkins]

Originally Posted by h_curtis

City to revamp Hill District's Addison Terrace

Great to see we are in such wonderful financial shape to spend $160 million on this section 8 stuff. Where does all this money come from?

I do not believe it will be entirely section 8 stuff. The article said mixed income meaning there will be some market rate housing in addition to subsidised. Crawford Square (in the Hill District) is an excellent example of how this will work.

[BrianTH]

Originally Posted by UKyank

It's a good thing then that the federal government is flush with money to spend.

This is an ideal time for long-term investments like this--all the major costs, including borrowing costs as necessary, are relatively low right now. In fact in the Pittsburgh MSA we're still something like 6000 construction employees off peak with continuing elevated unemployment rates in general--let's stop wasting those resources and put them to work!