Quote:
|
Originally Posted by Shazam
You willing to foot the bill for it? The City of Calgary has only one revenue source - taxpayers. And you may not own a house, but my property taxes are beyond reasonable now.
|
Over the long-term life of the building, even a low-income rental property should be able to pay for itself--it's not as though these people are being given free accomodation--a lot of them have jobs and can pay modest amounts for their housing (and others are seniors or disabled folk who are given money for their basic living expenses). Say you've got a hundred units, averaging $400 a month--that's 24 million over the first fifty years of the building's life. Some of that goes to ongoing maintenance, yes. But a significant amount can go against the initial cost of the building. And surely it would solve more than the current formula of buying other buildings and displacing people... That costs money too, and doesn't result in an increase in vacancies.
It's not a question of the city not having money, it's a question of it poorly spending the money that it does have.