Whereas Councilmember McNamee’s vote towards the reasonably priced townhomes challenge was disappointing, if not unsurprising, his insensitive and unjust feedback about low-income individuals mustn’t go unchallenged.
Like many different low-income individuals, I’m hardworking and accountable. I work lengthy hours and stay a low-budget, no-frills life.
I’m a penny-pincher who has managed to avoid wasting an excellent quantity towards a down cost.
I pay all my payments on time and am debt free. My credit score rating is over 800.
Regardless of my monetary self-discipline, my dream of homeownership is fading quick as costs for actual property and residing bills improve exponentially whereas wages stay comparatively stagnant.
McNamee stated that he believed in giving a hand, however not a handout. That is truly a reduction, not a handout, to assist low-income households turn out to be full members in our financial system.
The townhomes will probably be paid for by the patrons however at a worth that’s beneath market worth. He additionally stated that buying the property for this challenge with taxpayer cash was a type of charity.
Nevertheless, this isn’t a giveaway. The lot may need value $10 million, however the 59 townhomes will probably be offered for $275,000 to $600,000 every. I don’t know the precise value of every particular person house, however for those who merely multiply the typical of the excessive and low worth by 59, the house gross sales would complete almost $26 million.
That ought to cowl the complete value of the challenge, whereas creating 59 new property house owners who pays property taxes to the county yearly.
In the end, this challenge is an funding in our neighborhood that may pay dividends, and I applaud the mayor and council members who made it attainable.