Quote:
Originally Posted by CaptainCrunch
Fair enough, but you're still asking low income residents to find a way to ante up $55,000.00 per pad to do that. or add about $5000.00 per year to their bottom line living expenses.
Of course its going to be rejected, and I don't doubt that the city knew it would be rejected before they presented it.
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I live in a neighbourhood adjacent to this park. Not including any discussion at all about property taxes, the letter to the residents about another trailer park, ect.
You do realize that $55,000 per lot on that property is an absolute steal, right? My home, the lot alone is worth $3-400,000.00 today. If their lots are one third the size (which it appears from google maps), then these people were offered their lots at least half off. In all likelihood, these lots are worth on the order of 200,000 each right now - especially if they were bought all together. If these people had merely bought the land for the same price, then sold it themselves to a developer, they would have made off handsomely. Even just owning their own land, they would have had a massive windfall in terms of equity. Most people don't buy land cash, so it would have been a loan they would have needed in order to keep their homes.