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Housing Group Urges Council Waive Higher Buyout Rates for Windsor/Hale Projects Posted on Thursday, July 17 @ 17:19:37 EDT by jfbailey

Community

WPCNR THE HOUSING NEWS. From the Mayor's Office. July 17, 2008: Mayor Joseph Delfino and members of the Common Council  recveived a letter today from the Westchester County Housing Opportunity Commission, urging the Council and the city to relent and not charge Windsor Terrace higher buyout fees they are now subject to that went into effect in March when the Council passed the new regulations requiring 10% of units in their projects to be set aside for affordable housing or subject to buyout fees. 

The organization writes: "We believe, that in these cases (Windsor Terrace and Hale Terrace), equity requires that the projects not be burdened ex post facto. The request relief is expecially appropriate in the context of the severe threat to the survival of a whole host of major projects in the City due to the current difficulties that affect investment and lending in real estate.  " 

The letter is signed by George Raymon, Chairman.


 
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