Anonymous wrote:The whole thing stinks to high heaven. Will the Inspector General step in?
jsteele wrote:Did everyone see this article about the costs of Bowser's plan:
https://www.washingtonpost.com/local/dc-politics/homeless-shelter-plan-could-be-profitable-for-bowsers-backers/2016/03/16/cbab0e76-eadc-11e5-b0fd-073d5930a7b7_story.html
"But records show that most of the private properties proposed as shelter sites are owned or at least partly controlled by major donors to the mayor. And experts have calculated that the city leases would increase the assessed value of those properties by as much as 10 times for that small group of landowners and developers."
I've been a supporter of the shelter plan and I don't think cost-effectiveness should be the major consideration. But, at the same time, the costs must be in the realm of sanity and it is not clear to me that is the case with this plan. Even in Ward 3 which we know has high-priced real estate, Bowser has managed to commit to paying over twice as much as the going rate:
"In Ward 3, Bowser is proposing to spend $56 million to lease 38 units that would be built on Wisconsin Ave. NW near Observatory Circle. The District would pay an estimated $6,187.26 in monthly rent per unit over 20 years. The average rent for high-end apartments in the ward is $2,973."
It would be a really tragedy if the Bowser administration sought to exploit the homeless situation as an opportunity for some individuals to make a quick buck.
Anonymous wrote:The whole thing stinks to high heaven. Will the Inspector General step in?
Anonymous wrote:So let me get this straight:
1. The city will pay the construction costs to build new structures and facilities on each of these sites
2. The city will then lease the buildings from the property owners for 20 to 30 years.
3. At the end of 20 to 30 years, the city will need to find new properties and will own nothing. The original property owners will have received tens of millions in annual payments and will own the building.
What the ever-loving F#CK?!?
Anonymous wrote:jsteele wrote:Did everyone see this article about the costs of Bowser's plan:
https://www.washingtonpost.com/local/dc-politics/homeless-shelter-plan-could-be-profitable-for-bowsers-backers/2016/03/16/cbab0e76-eadc-11e5-b0fd-073d5930a7b7_story.html
"But records show that most of the private properties proposed as shelter sites are owned or at least partly controlled by major donors to the mayor. And experts have calculated that the city leases would increase the assessed value of those properties by as much as 10 times for that small group of landowners and developers."
I've been a supporter of the shelter plan and I don't think cost-effectiveness should be the major consideration. But, at the same time, the costs must be in the realm of sanity and it is not clear to me that is the case with this plan. Even in Ward 3 which we know has high-priced real estate, Bowser has managed to commit to paying over twice as much as the going rate:
"In Ward 3, Bowser is proposing to spend $56 million to lease 38 units that would be built on Wisconsin Ave. NW near Observatory Circle. The District would pay an estimated $6,187.26 in monthly rent per unit over 20 years. The average rent for high-end apartments in the ward is $2,973."
It would be a really tragedy if the Bowser administration sought to exploit the homeless situation as an opportunity for some individuals to make a quick buck.
The fact is [are]building[s] with all utilities included, has some 2 beds converted to 3's [L shaped LR/DR] , 2 baths, pools, gyms walkable to metro for under $3000/month. Add walkable to metro [less than 3 blocks] and you have a real tragedy. Location on connecticut near metros.
Near the wisconsin ave location for Bowser's legacy is Alban Towers which has 2 bedrooms for 3105/month.
Anonymous wrote:So let me get this straight:
1. The city will pay the construction costs to build new structures and facilities on each of these sites
2. The city will then lease the buildings from the property owners for 20 to 30 years.
3. At the end of 20 to 30 years, the city will need to find new properties and will own nothing. The original property owners will have received tens of millions in annual payments and will own the building.
What the ever-loving F#CK?!?
The result is that the favored crony developers and property owners likely will get an enormous economic benefit without subjecting themselves to a contested zoning process with their communities.Anonymous wrote:jsteele wrote:Did everyone see this article about the costs of Bowser's plan:
https://www.washingtonpost.com/local/dc-politics/homeless-shelter-plan-could-be-profitable-for-bowsers-backers/2016/03/16/cbab0e76-eadc-11e5-b0fd-073d5930a7b7_story.html
"But records show that most of the private properties proposed as shelter sites are owned or at least partly controlled by major donors to the mayor. And experts have calculated that the city leases would increase the assessed value of those properties by as much as 10 times for that small group of landowners and developers."
I've been a supporter of the shelter plan and I don't think cost-effectiveness should be the major consideration. But, at the same time, the costs must be in the realm of sanity and it is not clear to me that is the case with this plan. Even in Ward 3 which we know has high-priced real estate, Bowser has managed to commit to paying over twice as much as the going rate:
"In Ward 3, Bowser is proposing to spend $56 million to lease 38 units that would be built on Wisconsin Ave. NW near Observatory Circle. The District would pay an estimated $6,187.26 in monthly rent per unit over 20 years. The average rent for high-end apartments in the ward is $2,973."
It would be a really tragedy if the Bowser administration sought to exploit the homeless situation as an opportunity for some individuals to make a quick buck.
The fact is [are]building[s] with all utilities included, has some 2 beds converted to 3's [L shaped LR/DR] , 2 baths, pools, gyms walkable to metro for under $3000/month. Add walkable to metro [less than 3 blocks] and you have a real tragedy. Location on connecticut near metros.
Near the wisconsin ave location for Bowser's legacy is Alban Towers which has 2 bedrooms for 3105/month.
jsteele wrote:Did everyone see this article about the costs of Bowser's plan:
https://www.washingtonpost.com/local/dc-politics/homeless-shelter-plan-could-be-profitable-for-bowsers-backers/2016/03/16/cbab0e76-eadc-11e5-b0fd-073d5930a7b7_story.html
"But records show that most of the private properties proposed as shelter sites are owned or at least partly controlled by major donors to the mayor. And experts have calculated that the city leases would increase the assessed value of those properties by as much as 10 times for that small group of landowners and developers."
I've been a supporter of the shelter plan and I don't think cost-effectiveness should be the major consideration. But, at the same time, the costs must be in the realm of sanity and it is not clear to me that is the case with this plan. Even in Ward 3 which we know has high-priced real estate, Bowser has managed to commit to paying over twice as much as the going rate:
"In Ward 3, Bowser is proposing to spend $56 million to lease 38 units that would be built on Wisconsin Ave. NW near Observatory Circle. The District would pay an estimated $6,187.26 in monthly rent per unit over 20 years. The average rent for high-end apartments in the ward is $2,973."
It would be a really tragedy if the Bowser administration sought to exploit the homeless situation as an opportunity for some individuals to make a quick buck.