Big Money In Low Income Housing

Make no mistake about it there is big money in this. Consider this:

• underlying municipality typically gives out variances, that nobody else can get, allowing for high density development for the low income housing project
• underlying municipality typically waives or at least credits fees for permits and water/sewer hook-ups
• underlying municipality typically pays for infrastructure improvements like sidewalks, grind and overlay, etc
• a great majority of the cost to develop the project is received in various grants and federal tax credits that the developer does not have to pay back as long as the "affordability" period is complied with

Bottom line if you have a willing, unsuspecting, co-operating municipality a low income housing developer will build on every possible parcel of land available since they themselves can make big money. They will downplay this and say that they make little or no money, but this is simply not true.