Report a Comment

For any program to be successful it's necessary to make quick adjustments as problems pop up. The publicity over the fiasco with the first two condo units not saleable should be met immediately with corrective legislation (condos can comply with IZ rentals or a public financier for the "condos" etc.).

Generally I'm opposed to no transfer of equity at all. It gives owners motivation to improve and also there's no better solution for poverty than money. (not that all in IZ are in poverty).

I do deal with developers enough to know they avoid IZ like a plague. That's why the rush to get permits before the IZ implementation last year. (btw-does that 14th & Wallach building in the photo have IZ?-it should).

It would be interesting to see an article comparing IZ to rent control in practice, not theory.

IMHO developers have enough clout that when the market slows soon, as it will like 2007, they'll get IZ gutted as a "remedy". Best to be on top of the game when that push comes.

by Tom Coumaris on Jul 14, 2012 10:58 am • link • report