As I was watching the planning preview for the city (FF: 5:00) they had on the housing specialist for the city and he talked about the continued success of community development loans (duh). He admitted those loans and endowment built from repayments is around $1 million a year. I have been saying for a long time the city needs to implement a pilot program targeting the neighborhoods in most need with community development loans. The housing guru also admitted that cleaning up current affordable housing stock is a lot cheaper then creating new spaces. (also duh)
I have often been baffled about a program that works so well doesn’t have millions thrown at it each year. As governor Hair Extensions would say, “Federal money has strings attached.” Yeah, they actually expect the programs to help PEOPLE and not just DEVELOPERS.
The city has had a tool for decades to clean up neighborhoods in this city and have only used kid gloves applying it. Why?! If something works, you run with it.
