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Does it make sense for the City to subsidize apartments at 16 Tech to the tune of $44,803 per apartment unit? Isn’t this a burgeoning area of redevelopment where market-rate residential development should be able to occur without subsidy? If not, at what point in time do we expect the private sector to start adding tax base without TIF subsidy?
If the payoff to the City is the 15 apartments affordable to very-low income households, that subsidy would be $833,333 per unit. If the goal is housing affordable to very-low income households, it would seem that the City could get at least a 60-unit apartment building for $12.5 million.
Why are you building small projects??? Build something impressive!!!!!
Is there literally anyone that does anything on their own dime?
No.
What is the city getting for subsidizing the Stutz renovations? Nothing is mentioned.
$12 million for setting aside 12 affordable apartments is incredible bad resource allocation. Those apartments will be built anyway.
More Indianapolis corporate welfare. When are our city’s political leaders ever going to say “no?”
You have too much faith in our leaders – past, present and future.