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Average property tax increase: $25/year
Expected # of "new units": 3,261 (though actually 106 are major rehab and 225 minor rehab of existing homes)
Cost/unit: $25K.
A few items with which I have concern:
*a 50 bed homeless facility at a cost of $200K/bed
*$100K/home for "major rehab" for 106 owners
*$10.6MM in homebuying downpayment assistance for 323 buyers = $30k/buyer. I don't know how much of this would be hard cash vs program costs.
These 3 just seem to be outsized costs for those benefitting.
I also wonder what our affordable housing need is deemed to be we're basically talking ~2,600 new units.
I'm in favor of a bond to either be "government housing" or used to "leverage public/private partnerships", and in favor of a right-sized bond that comes as close as possible to meet the need.
It will get passed because current officials cant do math and will throw money at everything that sounds "good". It could cost a trillion and it will get voted in. Get ready folks, we are slowly tuning into NY, NJ, and CA. Its too much money for such a little benefit. Cities dont know how to get work done for a reasonable cost and these projects balloon up in price. Its why they pay $1 million for bridge art, $10+ million for sandy forks including $70k+ for that stupid bong, and $8 million for bikes lanes that are rarely ever used. You want high taxes? Keep voting these people in.
*a 50 bed homeless facility at a cost of $200K/bed
You're not reading those numbers right. The chart says 50 units of supportive housing. A unit doesn't directly equate to 1 bed. A subsidized unit can support multiple individuals or families. The number of individuals supported by the cost is far higher than you're making it appear here.
It's easier from a government perspective to buy feel good votes vs create an economic base which creates jobs so people can lift themselves up.
Umm, the Raleigh area is one of the leading job creating areas in the country. You're not analyzing the issue properly. Lack of jobs isn't the issue. Job creation has been so robust its caused the price of housing to increase to a level where many people can't afford it.
It will get passed because current officials cant do math and will throw money at everything that sounds "good". It could cost a trillion and it will get voted in. Get ready folks, we are slowly tuning into NY, NJ, and CA. Its too much money for such a little benefit. Cities dont know how to get work done for a reasonable cost and these projects balloon up in price. Its why they pay $1 million for bridge art, $10+ million for sandy forks including $70k+ for that stupid bong, and $8 million for bikes lanes that are rarely ever used. You want high taxes? Keep voting these people in.
First of all, you don't build bike lanes and have them fill up right away, that will take time. The issue there is that where they exist they're great, but once they terminate and you're not at your destination, they lose their appeal. Electric bikes and electric scooters will continue to make those grow in use.
Second, do you know any place in the country where taxes don't consistently increase? I keep hearing about how the Triangle is turning into NY/NJ/CT, but in 12.5 years living in my previous house, my taxes increased by a whopping $800 per year (about $70 per month), in small increments. Previously my taxes had increased by over $400 PER MONTH over a five year period while living in NY. There's no meaningful comparison to be found there.
Third and final point, you can't run funded municipal projects like a homeowner negotiating with a contractor for a home improvement project. That results in rounded up, generally over funded projects often exploited by commercial contractors who are adept at squeezing every available dollar out of the municipalities wallet. It can be frustrating, but if you see a better way to manage this, run for office and make that central to your platform; I'll vote for you.
Quote:
Originally Posted by wheelsup
Well, it was bound to start here eventually.
It's easier from a government perspective to buy feel good votes vs create an economic base which creates jobs so people can lift themselves up.
If you're in healthcare or technology, we're living in the land of opportunity. But if you're an hourly worker in a different trade, this is becoming an increasingly difficult place to afford. All of us folks living large off of our RTP salaries still need our lawns mowed, walls painted, cars maintained, etc. It's the responsibility of our elected officials to seek a balance so that all socioeconomic tiers can get access to affordable homes. Assuming that by making life easier for IBM, Cisco et al it will generate enough personal wealth so that affordable housing is unnecessary excludes the woman who cleans my house twice a month, or the counter person working at my favorite pizza place.
LOL this is still a good idea with the collapsed covid budgets
Please share your detailed knowledge of the City of Raleigh's budget, the impact of covid on the current fiscal year, and the impact for the next 3 to 10 years.
If you're in healthcare or technology, we're living in the land of opportunity. But if you're an hourly worker in a different trade, this is becoming an increasingly difficult place to afford. All of us folks living large off of our RTP salaries still need our lawns mowed, walls painted, cars maintained, etc. It's the responsibility of our elected officials to seek a balance so that all socioeconomic tiers can get access to affordable homes. Assuming that by making life easier for IBM, Cisco et al it will generate enough personal wealth so that affordable housing is unnecessary excludes the woman who cleans my house twice a month, or the counter person working at my favorite pizza place.
That sounds very aspirational!
What is stopping you from paying the person who mows your lawn more? This is what I don't get about this sort of mentality. It's about forcing others to pay.
My wife works for one of the companies you listed...her net after tax is around $3,400. We mow our own lawn, and make our own pizza (including dough). The guy installing our HVAC makes more than her.
Please let me know when we can start living large. Thanks!
LOL this is still a good idea with the collapsed covid budgets
No it's fine. We'll just slash our police budget. Lol.
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