KCRag Forum

Chris Stritzel wrote: ↑Thu Aug 18, 2022 11:09 pm At least the ordinance passed. Take that "L" KCTenants. Now, even though it's a little bit better, we'll see if developments come back. That second part of the legislation, to streamline the process, needs to advance though.

Chris Stritzel wrote: ↑Thu Aug 18, 2022 11:12 pm The KCTenants meltdown on twitter is hilarious.

Chris Stritzel wrote: ↑Thu Aug 18, 2022 11:09 pm At least the ordinance passed. Take that "L" KCTenants. Now, even though it's a little bit better, we'll see if developments come back. That second part of the legislation, to streamline the process, needs to advance though.

AlkaliAxel wrote: ↑Fri Aug 19, 2022 12:53 pm Vote was 9-4 to pass it.

Eric Bunch was one of the 4. Gonna be honest I thought he had wised up on this issue…nope nevermind. Super disappointed.

Highlander wrote: ↑Fri Aug 19, 2022 12:42 pm

Chris Stritzel wrote: ↑Thu Aug 18, 2022 11:09 pm At least the ordinance passed. Take that "L" KCTenants. Now, even though it's a little bit better, we'll see if developments come back. That second part of the legislation, to streamline the process, needs to advance though.

Its astounding how many people in this country take positions that are contrary to their own interests. It should be clear to all that no apartments are going to be built if projects are burdened with the kind of affordable housing requirements that KC has had. The result is exactly the opposite of the intended outcome. Talk about unintended consequences.

Households with earning of less than 27% of the city's median income, currently, less than $15,000, will pay taxes only on their land, exclusive of improvements, for 10 years, followed by a set 2.65% of annual income for the next 15 years.

Westside households with annual income between $15,000 and $75,000 would pay 2.65% of their annual income for the abatement's 25-year duration. The majority of neighborhood homes, about 362, are believed to fall under this bracket.

Residents with annual household incomes between $75,000 and $150,000 will receive a 40%, seven-year property tax abatement, while those making above $150,000 per year can receive a 10%, seven-year abatement.

Beyond local taxing jurisdictions, a portion of the payments will flow to the Westside Redevelopment Corp. as "support fees" to help finance home improvement projects for low-income residents.

Cratedigger wrote: ↑Wed Oct 12, 2022 6:48 am Now this is interesting. Westside Neighborhood is tapping the same incentive program Three Light and the KC Star building used to avoid people being priced out.

https://www.bizjournals.com/kansascity ... ement.html

Households with earning of less than 27% of the city's median income, currently, less than $15,000, will pay taxes only on their land, exclusive of improvements, for 10 years, followed by a set 2.65% of annual income for the next 15 years.

Westside households with annual income between $15,000 and $75,000 would pay 2.65% of their annual income for the abatement's 25-year duration. The majority of neighborhood homes, about 362, are believed to fall under this bracket.

Residents with annual household incomes between $75,000 and $150,000 will receive a 40%, seven-year property tax abatement, while those making above $150,000 per year can receive a 10%, seven-year abatement.

Beyond local taxing jurisdictions, a portion of the payments will flow to the Westside Redevelopment Corp. as "support fees" to help finance home improvement projects for low-income residents.

Thursday, November 17, 2022
WASHINGTON – The U.S. Department of Transportation’s Federal Transit Administration (FTA) today announced 19 awards totaling approximately $13.1 million from President Biden's Bipartisan Infrastructure Law to help boost local economies, fight climate change, and provide more transportation options through development near new or expanded transit project corridors.

These grants, funded by FTA's Pilot Program for Transit-Oriented Development (TOD) Planning, support local strategies to increase transit access and encourage ridership through mixed-use and mixed-income development near public transportation projects. The program helps communities plan for opportunities created by new transit stations, such as affordable housing, economic development, and better connections to schools, hospitals, stores, and restaurants. 

In one recent survey, just 30 to 40 percent of American adults said they believed that increasing the housing stock would slash prices and rents; that belief—often described as “supply skepticism”—in turn dampened their enthusiasm for new construction. Such mistrust is rooted in a confluence of events that countless city dwellers have seen with their own eyes: The laundromat closes. The soulless five-over-one condo building goes up. Black families leave and white couples flood in. And all the while, rents surge, making real-estate development look like an engine of gentrification rather than an engine of affordability.

But that displacement happens only because building dense housing is illegal in many rich neighborhoods, and because cities build so little of it overall. “If you want to build enough to really help low-income people, you’re talking about doing a lot of building,” Rick Jacobus, an expert on inclusionary housing and the principal of Street Level Urban Impact Advisors, told me.

alejandro46 wrote: ↑Thu Aug 18, 2022 10:54 pm Revised affordability requirements passed, streamlined development process put on hold.

KCTenants disrupted the meeting.

https://www.kansascity.com/news/politic ... 47419.html

Anita Adams’ ambition sounds simple enough: the Seattle homeowner wants to build a second, four-unit structure on her property so she can give her adult children, father-in-law, and potentially other family members a place to live in the city’s historically Black Central District, where she has resided her entire life. 

The 49-year-old government worker and her husband can afford the project with financing, which she expects would total around 2,200 square feet, though she may have to rent out one of the units for a few years to help cover construction costs.

What she can’t afford, though, is the extra $77,000 she would need to fork over to Seattle upfront just to break ground. That cost was created by a local rule to create and fund affordable housing — but Adams argues it is instead blocking her kids from being able to afford to stay in a city where her family has lived for generations.

So, for two years, the project has been on hold while her children live outside of Seattle. In the meantime, the expected cost of the project has ballooned from about $600,000 to at least $750,000 and as much as $900,000 due to inflation and rising interest rates, she said. 
...

FangKC wrote: ↑Sat Dec 17, 2022 3:19 am A Seattle woman can’t build affordable housing on her property without first paying the city $77,000. Now she’s suing.

Anita Adams’ ambition sounds simple enough: the Seattle homeowner wants to build a second, four-unit structure on her property so she can give her adult children, father-in-law, and potentially other family members a place to live in the city’s historically Black Central District, where she has resided her entire life. 

The 49-year-old government worker and her husband can afford the project with financing, which she expects would total around 2,200 square feet, though she may have to rent out one of the units for a few years to help cover construction costs.

What she can’t afford, though, is the extra $77,000 she would need to fork over to Seattle upfront just to break ground. That cost was created by a local rule to create and fund affordable housing — but Adams argues it is instead blocking her kids from being able to afford to stay in a city where her family has lived for generations.

So, for two years, the project has been on hold while her children live outside of Seattle. In the meantime, the expected cost of the project has ballooned from about $600,000 to at least $750,000 and as much as $900,000 due to inflation and rising interest rates, she said. 
...

https://www.marketwatch.com/story/a-sea ... a-ockerman

...
It is the fifth acquisition for Washington Housing Conservancy and the second in the District, expanding its portfolio of affordable housing units in the D.C. area to 1,600. The group has set a goal of preserving or converting 3,000 units.
...

Affordable housing/homelessness:

James: “The problem is to some extent there is a tide that we don’t have a big enough wall to stop called the economy. As people don’t have the money to exist, housing prices go higher, there’s going to be more people on the street.

“You have to remember, the federal government and state government create a lot of problems that come to live in the cities, and we’re left to deal with it. But they don’t give us any money to do it.

“The state cut our low-income housing tax credits dramatically, which affected out ability to do low income housing. Once that happens, it’s hard to get a developer and say ‘come build low income housing and take a loss on it.’ That’s not happening.