I agree with Larry Dzieza and Jim Lazar on this issue. The Multi-Family Tax Exemption for market-rate housing is a "reverse Robinhood" program. All of us ordinary taxpayers are required to subsidize rich developers and land speculators. It is unconscionable.
Note that staff and consultants spoke with real estate developers for this proposal, not with ordinary people. The whole city operation has gotten too close to real estate and business interests. Those people have a different bottom line from that of the general public.
Bob Jacobs
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