Thursday, April 5, 2018

#atxcouncil: Casar, Garza, Renteria propose making new construction EVEN MORE Prohibitively Expensive

"God sets the solitary in families;
He brings out those who are bound into prosperity;
But the rebellious dwell in a dry land."
Psalm 68:6

Apparently, there was some sort of "housing summit" yesterday.  As part of the festivities, Council members Casar, Garza, and Renteria introduced their so-called "housing justice" agenda.  Based on the first item alone, the entire initiative is doomed to (very expensive) failure:
  • Renter protections that require developers to pay the relocation costs of tenants who are displaced if the property they live on is redeveloped;
Forcing developers to "pay the relocation costs of tenants" is a sure-fire way to torpedo new construction.  As developers evaluate their return on investment, forcing them to absorb relocation costs for dozens or hundreds of people per project, they will naturally engage in far fewer projects. That means we're stuck with our current housing stock for the forseeable future.  It's just common sense.

Then there's the fact that the terms aren't even defined.  Specifically, how do you define "relocation costs"?!?  How do you define "displacement"?!?

As for the rest of the "plan," it's an unworkable hot mess of subsidies for some and tax increases for others.  The politically privileged would get multimillion dollar city hall contracts.  The rest of us pay for it.

Then there's the fact that the politically directed allocation of housing creates multi-year waiting lists.  Vulnerable citizens would be forced to pay unnecessarily high market rates for several years before they have a realistic opportunity for a subsidized unit.  Either that or they'd leave town entirely.

Bottom Line: Multimillion dollar city hall contracts for some.  Higher tax bills for everyone else.  What's not to love?!?

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