Spring Valley, NY – The Village Board has passed a local law requiring developers of multi-family dwellings of at least 10 units to set aside 10 percent of those units for affordable housing.
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“Property values in the village as a whole are rising, which is a good thing, but when property values rise it does affect the affordability of housing for many other people,” Ryan Karben, the village attorney who wrote the law, said today.
“The village believes it was important to try to ensure some balance by requiring affordable housing set-asides to maintain Spring Valley’s status as a premier community for working people.”
Yup spread the wealth (proverty) around. Works whenever tried everyone will be equally poor.
they should pass this law in every state
Wonder how that will work
The affordable one will probably be affordable only because it would have zero amenities included. If you want air conditioning you’ll have to open the windows. Lights, plug in a lamp etc.
sounds like those jokes they used to make about no options, no frills basic cars- “steering wheel optional”, etc.
seriously, how will the selection for the bargain units be made fairly? I would imagine that among the qualified potential buyers there would have to be some kind of lottery?
Just another regulation for some politican to put on his flyer election season
If it’s my property, why shouldn’t I put it to its most valuable use? If I can build a house that will fetch $1M, why should I deliberately build one that will only get $300K? Would you do that with your property? What gives the city the right to tell me what I can build on my property in the first place? Safety codes are one thing; but if they admit that what I want to build is safe, and will not harm anybody, and their only objection will go away if I build a cheaper house to give away at bargain basement prices, how is that different from blackmail? Where do they get a right to dictate to me like that? Because a bunch of other people voted for them? If all of those voters were to come together and conspire to make such a demand from me, I’d have them all up on RICO charges, so how does calling it a “government” make it kosher?