In Molly Miller’s most recent rambling commentary supporting the city’s 5-acre parcel plans in Bonanza Park, she leaves out the most important fact: a renter does not have to work in Park City in order to get an affordable (but not inexpensive) unit.
Really? Yes, that is true. In fact, someone working outside Park City in an apartment whose land is paid for by Park City citizens can live in a highly subsidized unit here. What happened to the argument made by Molly and some of her Park City Council colleagues that in-town affordable housing is critical to the Park City’s worker shortage?
In this proposed development, why will non-Park City workers not be required to live here, too?
Here is the rest of the story: In order for the developer to make a “proper profit,” that developer must get federal Low Income Housing Tax Credit financing (LIHTC). That LIHTC (another taxpayer subsidy) prohibits discrimination.
Apparently it is discriminatory to have Park City workers live in Park City housing that gets LIHTC credit.
In more common language, it is discriminatory to limit this housing only for someone to work in Park City and live in Park City affordable housing so the developer can build the nine buildings and still make a profit. What happened to the concept of a good project paying for itself? Short-term thinking at its worst!
And that, Molly, are the facts!
Let’s get a beautiful, picturesque park we can all be proud of. All of our citizens and all of our workers will enjoy it for decades to come.
Please go to place-pc.com to help stop this ridiculous development.
Bob Rollo
Park City