In November, Gossips reported on the situation with Crosswinds, which at that point was coming to the end of its 15-year period of compliance for the tax credits used to finance the construction of the development: "The Hydra in Our Midst."
The memo assures tenants that "the Low-Income Housing [Tax] Credit Regulatory Agreement governing the property and its rent restrictions will remain in full force and effect notwithstanding the change of ownership." Gossips has learned from a reliable source that the rents for all tenants at Crosswinds was recently increased. An internet search revealed that, under the Low-Income Housing Tax Credit (LIHTC) program, rents can increase annually by 5 percent or two times the percentage change in the national median income, whichever is higher.
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Hey that’s great pretty soon Galvan will own the entire town.
ReplyDeleteAlways has been 🌎🧑🚀🔫🧑🚀
Delete🙌 Excellent emoji use that instantly reminds of a famous and appropriate meme. Well done sir!
DeleteGalvan is the new Gellert
DeleteGalvan has been most generous with Hudson and its residents. Pre-Galvan Hudson was not so glam. But I ask you, why doesn’t anyone point out how many properties Linda Mussman owns and how much tax does she pay. It that those just sits at meetings and says nothing and quietly builds it they that real estate empire. Shed some light on what political talent that has for Hudson.
ReplyDeleteHi Blank -
ReplyDeleteGalvan has no doubt done many good things.
One of the question is whether the millions of dollars in tax breaks made sense, if it is still makes sense.
Many long-time residents are more skeptical of Spark's social engineering than Galvan playing monopoly....
But on your query of LM...does she, like Galvan, get PILOTS (tax breaks) and is there a way that her role as County Supervisor unfairly drives public benefits to her unique privately owned properties?
Are other County Supervisors on Linda's direct payroll?
Does Linda currently rent apartments to political office holders (like the mayor) who could extend favors and influence to her commercial interests?
Obviously making sound private investments is not the problem... it is her right. And the City benefits from private investment and fair tax assessments.
What is the specific conflict of interest that you are concerned about?
Thansks!
galvan had done many good things? 1 good thing; the library. thats it. and the price we’ve paid for this as a city has been very very high.
DeleteHi David -
DeleteThere are other things... but the point is that how could a typical resident know... you'd have to live here for decades and decipher 4 meetings a week to know.
Wouldn't it be great if we could all evaluate a more complete scorecard... and then the residents might decide that more PILOTs just do not make sense.
But my primary point, to Mrs/Mr Blank, is that private residents and private companies can do what they want as long as they don't break the law.
Public entities and entities who get tax breaks or subsidies are open to scrutiny and a higher standard for conflicts of interests.
And that is why it doesn't matter who the private landlord is of a private resident. But it does matter who the publicly funded affordable housing landlord is for the mayor.
Ok. From they them vantage point, people appear jealous of some while others get a quiet pass with Non Profit exploits. Mussmans resume as a county supervisor is sad. Longevity does not equal progress. So if people want to call out one, call them all out. Or just sit and complain. Non Profit is exploited for profit. It’s an oxymoron.
ReplyDelete