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Facts leading up to the housing bubble that broke our economy; "Just the facts ma'am just the facts"
Topic Started: Dec 21 2013, 04:04 AM (1,975 Views)
Mountainrivers
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Fire & Ice Senior Diplomat
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Pat
Dec 23 2013, 08:22 AM
Mountainrivers
Dec 23 2013, 01:46 AM
Pat
Dec 23 2013, 01:41 AM
The redlining issue spread into the development realm as well.

"So Mr. Builder, you want to build 450 homes in four phases, well we'll approve that plan provided A) you include 45 low income homes and 1 low income (code word for section 8) apartment complex. And B) that you set aside 2 pts for minority financial loan assistance."
That's interesting, Pat. I've never heard that and I can't find it with google. Can you provide a link?
This is what happens in the real world of property development and building Neal. Even though a community will have codified impacts fees that must be paid by the developer, before a go ahead is allowed and permits issued there is a game of extortion that takes place. In reality the costs are passed on to the consumers but it is still frustrating. We often are required to pave a street (no, it is not impacted by the development they just want it paved as a condition---a freebie for the community at large) or install infrastructure completely removed from any impact our development has on a community or neighborhood. It's just the way it is. Don can probably relate to this. They want diversification of residents so they force us to include the low income housing and section 8 apartments.
I understand impact fees. They make sense to me, but I've never seen a development anywhere I've lived that included low-income housing unless the whole development was intended to be that. Go to the better parts of Atlanta for instance and tell me that anybody is building low-income housing in a million dollar development.
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