We need answers about developers’ plans

Again, local developers are asking the city council to create a special taxing arrangement on residential property to help their for-profit efforts to develop 81 housing units. The reasoning is to create “affordable housing” to replace flood losses.

But numerous questions remain. What will these units sell for? Is there any guarantee they will be affordable compared to lost housing's pre-flood value? Where do these developers come up with a $31,000 per unit request? Who is the city's person who recommends $26,500 per unit? How do the proposed subsidy numbers mesh with anticipated profits the three developers expect to garner? Why the proposal that tax increment financing be applied to residential property?

Why does the council choose to ignore the city planning commission's rejection of the site plan partially for, of all reasons, concerns over water runoff (!)?

Last but not least, why does this issue keep coming up? “A part-time” city council has been severely strained as a result of the flood. Its time and resources spent on rationalizing property tax to support private developers can surely be better allocated.

Meanwhile Habitat for Humanity, local trade unions and hundreds of residents donate time, effort and expertise trying to address flood-related housing problems. The city should not be considering an increase of property taxes to enhance profits for well-heeled developers with remarkable access to the council's time and efforts.

Paul Remington

Cedar Rapids