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A comment on How about an “urban wealth fund”?. Parent comment
A: City owns an office building with a $1MM/yr fair-market rent, which it uses for administration.
B: City collects $1MM/yr rent from their office building, and pays $1MM/yr to rent out a different building for their administration to use.
If you net out the imputed rent in situation A, then it looks like the administration is $1MM/yr cheaper than it actually is.
A: City owns an office building with a $1MM/yr fair-market rent, which it uses for administration.
B: City collects $1MM/yr rent from their office building, and pays $1MM/yr to rent out a different building for their administration to use.
If you net out the imputed rent in situation A, then it looks like the administration is $1MM/yr cheaper than it actually is.