Originally Posted by
kernwatch
The new Marine Drive website is a huge step forward in erasing the "insider trading" culture that has long existed there.
But the incredibly low subsidized waterfront rents for relatively affluent households raise serious 'economic justice' issues in such an impoverished city.
Why are taxpayers subsidizing & running a waterfront complex in a city where there is such a massive housing surplus? At an estimated "In lieu of taxes" payment of about $40K annually, each of the 616 apartments contributes merely $65 annually to the local taxbase, as tenants may earn up to $70K annually.
Here is the rent schedule (including all utilities) from the new website:
Apt size, Rent, fam size, Income limits
1 BR, $305, 1 - 2, $37.5K - $42.9K
2 BR, $393, 3 - 4, $48.2K - $53.6K
3 BR, $482, 5 - 6, $57.9K - $62.2K
4 BR, $567, 7 - 8, $68.04K - $70.8K
In short, many households earning far more than the norm for Bflo are being heavily subsidized to live on the waterfront.
Incidentally, what is BMHA Commissioner Masicia saying now about the new Marine Drive administrator?
Here is Masicia's statemnt form the news coverage last spring?