I am livid - City of Calgary are IDIOTS

[ken0042]

Originally Posted by octothorp

that's 24 million over the first fifty years of the building's life.

The problem is that most building contractors want to get paid once the job is done, and not wait 50 years for payment. It's always been the up front costs.

If the building costs $10M to build (that may be out to lunch- I don't know) then at 4.5% interest and a 30 year amortization that would make payments around $50K per month. So then you are up to $500 per month per unit just in building costs. Add in property tax, costs of running the building, etc and you are suddenly no longer in the "low cost" area.

I suppose you could subsidize, but that isn't always a good idea. Shawnski is in this situation as a short term measure; and he actually has a good reason for his situation. If you allow people to always get hand outs; then what is the point in them working? (from their perspective)

[Incinerator]

Originally Posted by Shawnski

I would expect tonight (5?).

Just remember.. I do NOT have a good side!

Edit, oh and Fotze? I got in the Bronco in a ######bag line... but it was before the camera was rolling! The cameraman and Cynthia laughed, but concurred that we couldn't tape it.

Sorry man, the game's on at 5, we'll have to tape it

[pope04]

This story should be up in a few minutes.......

[Shawnski]

Link

$6.4 million for the building, $1 mill more to renovate....

[pope04]

Pretty brief story........Shawnski and Mrs Klatt came across well.

[KevanGuy]

Good interview Shawn!

[Shawnski]

Thanks KG. I would like to punch Ric McIver in the face though.

[pope04]

More in-depth piece at 6:15.........even got to see Shawnski in action posting on CP!

[Bobblehead]

I saw the interview - it was just after they replaced the glass in the game.

[Shawnski]

Link

The story starts at the 19:45 mark. (About two thirds through the show, just click to that point on the bar.)

Still ticked, but damn if it isn't just luck of the draw? What are the odds that of all the buildings out there, they buy THIS one?

Frickin' frackin'.....

[Bobblehead]

So, are there "plenty more buildings in the neighbourhood" like McIver said?

[FurnaceFace]

Great, Ric "blinky" McIver is involved.

I like the malarcy comment...I guess people understand this better than fata.

[Shawnski]

Originally Posted by Bobblehead

So, are there "plenty more buildings in the neighbourhood" like McIver said?

Concrete buildings? With well lit parking? Quiet? Decent size for $630/month? Good neighbours and landlord?

Not a chance.... I think he is full of it in general. IF there are so many spots, why not just rent them until they can build their own building in the first place?

I picked this building for a variety of reasons. I have already CHECKED many of the other buildings in the area. No thanks.

Governments... always telling us what is best for us...

Edit, BTW, I once took a stroll from 16th Ave N to Southcentre Mall. Is that walking distance in HIS mind?

[JiriHrdina]

Good for you Shawnski for fighting this one!

Just saw that story on CFCN's late news.

Malarkey i tells ya. MALARKEY!

[Shazam]

Originally Posted by octothorp

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.

Someone already mentioned the loan costs (with a very generous and unrealistic interest rate).

And anyhow, I didn't realize that as a taxpayer I was actually just loaning money to the city. When do I get my money back?

[ken0042]

Well, I just fired of an email to my alderman expressing my disappointment in how the city is handling this. I challenge all the rest of you CPers to do the same thing. It took me all of 15 minutes to bang off the email. Come on guys; this is a pillar of our little community we are talking about here! Surely if enough of us pull together we can help Shawn out here.

Link to the city here.

[Ace]

I heard it on the radio this morning as well. I was like "Hey! that guy's from CP"

[pope04]

Dealing with the City of Calgary is a very frustrating undertaking. I leased city-owned commercial property from 1995 to 2003. An issue came up that left the city in what I feel was a pretty severe conflict of interest. I shot off e-mails and telephone messages and was met with an underwhelming wall of apathy. I wish I had done what Shawn did and went to the media on the first hop.

[Shawnski]

Your concern and followup Ken is very touching. The word injustice would definitely play here, yet I cannot be concerned for my personal situation over it. This is the third time that something like this has happened to me, thus I am used to it, and even expect it.

In this situation, I am more concerned for the others here, and at this point... this story unfolds.

Cheers.

[Shawnski]

Not sure what you just saw fotze? Care to elaborate?