Housing question
How is it that Tannery Court has shovels in the ground when it faced significant opposition and doesn’t conform to the preferred housing methodology of mixed-development, when Abbey St. Andrew, a mixed housing development that involved the community from the start has yet to cut through asphalt?
I know the answer. But don’t like it. Security. Tannery Court is backed by a group with additional assets. Plus groups with only subsidized units are able to leverage provincial funds as a down payment in a way market units can’t be leveraged.
Fun.
1 comment:
yes AVIDE/Coop Atlantic/TANNERY court has resources ...
Check out this development upscale AVIDE development...
http://www.avide.ca/e/paoli1.htm
they describe it as "Nowhere else does a simple telling of one’s street address say so much."
Meanwhile for Tannery Court - all of the funds come from the Provincial and Federal Government - by setting up a non-profit "Tannery Court" - they are able to get 100% funding for their project - BTW their board of directors are employees of AVIDE. If AVIDE had directly applied for the same funds they would only be eligible for %50 of the funding.
For Saint Andrews and St. David - my understanding is that they were having trouble with funding for the non-subsidized units.
Sad to say it is easier (assuming you have no vision or principles) is create 100% low income verses mixed income.
For information on the funding program:
http://app.infoaa.7700.gnb.ca/gnb/Pub/EServices/ListServiceDetails.asp?ServiceID1=8675&ReportType1=All
exerpt...
The maximum forgivable contribution for projects sponsored by non-profit groups is $40,000 per unit and may include 100% of the units within a project. Private entrepreneurs are eligible for a maximum forgivable contribution of $40,000 per unit, limited to no more than 50% of the total units within a project.
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