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Wednesday, February 3, 2016

Who pays for affordable housing?

First of all, it's affordable apartments. There may be a few condos, probably adjacent to the interstate highway, but no houses. White Plains decision makers live in houses and are immune to any impact of "affordable housing". That would go for co-op owners, too. Some newer condos may have "affordable housing" units, so what is described below concerning renters may impact them, although this is unclear.

House owners do not have 10% of the houses on their block occupied by "affordable housing" people. Nor are they paying more in property taxes to make up for "affordable housing" people paying less.

All new developments in recent years have been required to provide, I think, 10% of the apartments as "affordable housing". So how would the building owner factor that into the business plan? I don't know but I have a guess.

The "market rate" renters in the other 90% of apartments are making up the difference. Do White Plains decision makers know? Do they ask? If this is correct, then only a certain group pf residents are subsidizing the "affordable housing" apartments: "market rate" renters in the newer buildings.

It's good that White Plains decision makers are thinking about this matter. It would be better if it were handled more equitably.

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