Adjusted Median Income.. If a person wants a 3 bedroom at Southgate Place, there are three apartments available. in order to qualify they have a lsot for 50% AMI and 60% AMI. Assume a family of 4, 50% AMI is 39,950 and 60% AMI is 47,900. if you amke more then this you can not get an apartment at Southgate Place.
The rent being asked i 1,109 to 1,223 per month. Lets assume a family of 4 qualifies for the three bedroom at the 50% AMI being earning 39,000 per year. Now you calculate rent of 1,109 (lowest) or 13,308 per which equates to 34% of the total family income.
My point here is based on these low income requirements nobody will be able to rent these apartments at the rent they are asking unless the are on Section 8, RCAP or of other rental programs.
Same Time Next Year
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It’s been nearly a year since I wrote about the problems that come from
having 11 bosses who are not on the same page about anything, as well as
suggestion...
4 months ago
4 comments:
OK, the rents are so high that low income people cannot afford them without government assistance, but they only rent to low income people. Is that correct?
I still think the old Salter school would be a great spot for a no-low project. Salter left because of a lack of parking, but we know the city will waive that requirement for a no-low project. We can buy it cheap because it's empty, create a non-profit shell company to hold it, collect grants to rehab it, and sell it to another shell company (using someone else's money for the purchase) and rent the units out at above market rates to low income people and the state will kick in the rest. Sounds like a money maker for everyone (but the taxpayer)
Special note: word verification for this post is RANTIES - how appropriate.
Steve nice idea .. :) for the Indian Hill area that has many relatively new single family, apparently soldily middle class homes in the immediate vicinty.
OMG can you image the rantors storming city hall if this was ever proposed?
But what i think would happen is the minute the low income de'ver goes for the req'd zoning variances they'd be dead in the water with abutters showing up en mass at the zoning hearing. All you need is one abutter objecting and it HAS TO BE AN ABUTTER and the NO LO plans are history.
Because the city is already over the 10% no lo threshold, SUPPOSEDLY there are no automatic zoning exemptions for the no lo dev'er.
That being said, I have read that the 10% threshold can be applied on a regional basis and not just on a municpality by muncipality basis. If that is the case and they lumped Worc in w/ Holden, Princeton, Paxton, etc and teh COMBINED REGION has under 10% no lo then the dev'er cuold be exempt form the constraints of the zoning ordinance. As I said, this is only what I have read as re: "regionalization" of the 10% threshold no lo factor. God, do I it aint true.
Well Mr Nemeth nailed it today. You go Bob !!!!!!!
Man I'll tell ya.... after reading todays Sundae paper...I mean the private sector employed middle class is just getting financially T boned, whilst the city council worries about frivolous s+++ like 4 knife ordinances, Mc Grory in Baaaawstin, useless ++++ing resolution, and illegals in AZ. Talk about fiddling while Worceser burns.
I am thinking here the words ADJUSTED & MEDIAN may have some rather intersting definitions in thsi context.
I know what income is. I do not know what Adjusted Median Income is and I think there in lies the real truth of the matter as re: what kinda income you need or do not need to reside in thsi newest low income project.
Bill, do I get 2 parking spaces for my family's two cars at this latest project? I'll the parking spaces right outside my apt as I am 379 lbs and therefore deemed handicapped, my 2 kids both ride the littel yellow buses, and in this neighborhood I have to keep a constant watch out on my 8 spinner chrome wheels that set me back many pesos.
AMerica, truly the greatest country in the world to be either wealthy or poor. If you're in the middle, you're in the bulls eyes.
Story on Southgate place by Worcester Wired - http://www.worcesterwired.com/2011/04/08/southgate-south-worcester-steps-forward/
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