tag:blogger.com,1999:blog-34141007.post3423466050741208704..comments2023-08-25T08:59:37.703-07:00Comments on Ponte Vista Blog: "San Pedro First", Isn't!M Richardshttp://www.blogger.com/profile/08644940232494534872noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-34141007.post-82157136393620893742007-08-02T18:55:00.000-07:002007-08-02T18:55:00.000-07:00Thank you Rebecca,With my support of R1 at Ponte V...Thank you Rebecca,<BR/>With my support of R1 at Ponte Vista, it is only logical that there really cannot be "low-income" housing on the site.<BR/><BR/>It is also my opinion that bad ideas is a standard when dealing with Mr. Bisno and his plans.<BR/><BR/>With Bob's original estimate that a 600 square foot studio or loft unit at Ponte Vista going for approximately $380,000.00, like he told us at the beginning of the year, any concept of "low-income" or even "affordable" for so many of us in the community, is not a concept we can imagine.<BR/><BR/>Sure he dropped the lowest priced approximation about $50,000.00, but at #330,000.00 for the lowest priced unit, leaves many more than a few members of OUR community unable to buy something the size of a garage.<BR/>MWM Richardshttps://www.blogger.com/profile/08644940232494534872noreply@blogger.comtag:blogger.com,1999:blog-34141007.post-17918975161665753042007-08-02T16:48:00.000-07:002007-08-02T16:48:00.000-07:00I just wrote a blog on this subject. The problem ...I just wrote a blog on this subject. The problem with the 15% rule is that it applys to the entire development and not just the same 15%. Currently a low income person could purchase a low income property and turn it for a profit at market value, and then the development would be short a condo so the next condo to sell (could be yours you purchased at market value) the city has the right to purchase it from you at low income value. If the city will not waive that right...you either can not sell it or must only accept the city's low offer. Still think it's a good idea?Anonymousnoreply@blogger.com