Re:Seattle looks to rein in state policy used to push back o...
by jetrink on Monday October 07, 2019 @06:04PM
(#21186477)
Isn't this the problem that municipal bonds are supposed to solve?
Re:Seattle looks to rein in state policy used to push back o...
by alistairSH on Monday October 07, 2019 @07:44PM
(#21187213)
Sure, but that costs more than getting the developer to foot the bill.
Re:Seattle looks to rein in state policy used to push back o...
by ericd on Tuesday October 08, 2019 @02:58AM
(#21189501)
The developer will pass those costs along to the buyers of the new housing. Which means you effectively want those people to subsidize the existing residents.
Besides that, making new development extremely expensive with all this haggling is one of the major reasons for the housing crisis.
So, if there's no kick-in from the developer, it could be years or decades before funding is in place.
I agree that it's not (directly) the developer's problem to solve. But, to the extend it might make their development faster or possible, they should have an interest in kicking in funds. And communities should rightly ask for that money.