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Cheryl Cort-
I think you are mistaken on a number of fronts. Presuming that this policy will work here in the District because of land trusts models elsewhere is simply baffling. Manna seems to have a pretty solid track record in this field and I highly doubt that their claims are incorrect. Their approach seems grounded in actual experience whereas yours relies on "time-tested models across the country". Calling a "rent-controlled" policy ownership is unfair. You are misleading people. I highly doubt that if you were in the financial situation that some of these families are in, that you would actually participate in this program yourself knowing full well the negative impact that it will have on your future.
For me the CityFirst model isn't ownership either because the buyer has to give up 75% equity to CityFirst upon resale. That just seems bizarre.

by JD Stein on Sep 26, 2010 9:12 am • link • report

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