This is where Jim Lazar's recent comparative example of cost of homes under various investment examples would help educate the many readers. Let the other guy pay for it--but keep my rent low!!
The seeming simple answer--let the rich developer pay for the home construction, including the onsite City Street improvements, and for the offsite improvements--oh yes, don't forget the Impact Fees and then increase the utility bill and taxes to pay for maintenance. But make sure none of these increases will increase the cost more than 5% per year (total--rent must pay for all of this) and keep the cost so most anyone can afford to purchase or rent the new low-cost home.
In this case the city is the rich developer that owned the land before donating it to the "low-cost housing program". Another option is for the city (us taxpayers) completes all of the offsite upgrades except for impact fees. But the increase in taxes will raise the cost of other rentals in Olympia. A vicious circle that cannot be solved with piece meal financing.
Please explain the inappropriate content below.
