WPCNR MR. & MRS. & Ms. White Plains Poll. August 21, 2008 UPDATED August 22, 2008: This week, ground was broken on a new 14-unit "affordable housing" project on Minerva Place. Since this and projects like it have been funded with contributions to the affordable housing fund made by developers who have opted to "buy out" of building actual affordable units in their projects, WPCNR wondered how the populace feels about this continued policy of subsidizing projects like this. The last two projects took some $1.1 Million in city money. The Minerva Place project will use another $1 Million. Some of the apartment units themselves built previously approach $300,000 per unit to build, and generally pay the developer a developer's fee, and provide the land at reduced cost.
Paul Wood, the Mayor's Executive Officer, wrote WPCNR saying to make clear no tax payer dollars were used in these two products, that all money came from the Affordable Housing Fund, that is funded by developer contributions in lieu of building affordable units. However, tecnically it is city money to use as the council sees fit within the purposes described by the Affordable Housing Fund.
The affordable housing is meant for so-called "workforce" housing for police, teachers, city employees, then it is thrown open to every one else. How do Mr. and Mrs. White Plains feel about this on-going effort? Choose from the following choices: