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Santa Maria Sun / Letter To The Editor

The following article was posted on October 1st, 2019, in the Santa Maria Sun - Volume 20, Issue 31 [ Submit a Story ]
The following articles were printed from Santa Maria Sun [santamariasun.com] - Volume 20, Issue 31

This makes no sense

By Steve Dietrich, Lompoc

What a sweetheart deal. A developer is getting a taxpayer guaranteed loan of $300,000 per unit to “refurbish” apartments and to bridge a rent gap for low-income residents subsidized by the taxpayers for 50 years, plus a property tax exemption (“Lompoc housing update,” Sept. 26).

Ironically, some friends recently did a budget on a market-rate housing development in Buellton where the total all-in cost of the units was less than $300,000 including land, fees, design, construction, and overhead.

Where’s all the extra money going here?

The developers receive market-rate rents through subsidies while at the same time receiving property tax exemptions.

As Mr. Fink notes, these projects have a very high demand on city services, including police, fire, and paramedic.

While Mr. Fink speaks about 1 percent of bad apples, in truth the percentage is far higher. Unless we solve the addiction problems through treatment, law enforcement, and counseling, we will have only built a nicer incubator.

Steve Dietrich
Lompoc




Weekly Poll
How do you feel about the proposed Strauss Wind Energy Project near Lompoc?

It'll kill way too many birds.
The county needs to significantly increase its renewable energy production.
I'm concerned about the birds, but climate change will kill a lot more.
It doesn't matter. This project will fizzle out just like the last one.

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