Those Were the Days.
By Jim Conley • May 30th, 2007 • Email This Post to a Friend •
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Ah, remember when. Back in August of 2002, a “Project Review Team” looked into the feasibility of the St. Aidan’s housing project/money pit. And the Team’s Finance Subcommittee reported to the Selectmen that:
“The overall level of funding requested by the (developer), estimated at roughly $2.5 million, is appropriate for the level of affordable units provided, on a per unit basis, the investment requested is under $40,000 per affordable unit which compares well with subsidies commonly granted for affordable and mixed income developments in neighboring jurisdictions, like Boston and Cambridge.”
Should the Selectmen add another $2-3 million in subsidies next month, the Town’s commitment (excluding state and third party subsidies) will likely exceed $200 thousand per unit.
Often, those in Brookline town government say they are without peers. When it comes to overspending on affordable housing subsidies, they’ll get no argument from me.
Jim Conley is publisher of On Brookline.
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Is it that this is merely chump change or that the chumps just wont change? Or is horseshoes the governing standard of measurement? Maybe there are too many ringers in the game listening to the bells of St. Mary. Keep in mind that the BIG DIG went from under $3 billion originally to about $15 billion. We’ve got to start taking names.