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(Missoula Current) The residents of a small trailer park moved closer this week to owning the land under their homes after members of the Missoula City Council agreed to dedicate funding from the Affordable Housing Trust Fund toward the effort, pending the outcome of a public hearing.
But the $181,000 allocation to convert the mobile home park, located in the Franklin to the Fort Neighborhood, to a community-owned residence effectively depletes the Trust Fund's reserve balance of all revenue.
Emily Harris-Shears, the city's housing policy specialist, said that while draining the reserve account may leave a new project unfunded, the money...
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The city is spending about $70,000 per household to keep the rent lower by a few bucks? Read this quote from the artidle: “this amount will help keep the lot rents reasonable,” Harris-Shears said. “Residents will still experience an increase in their lot rent, but this stabilizes and reduces that impact.” So the rent will be no lower after the residents buy the park in all likelihood – possibly higher. Here’s a better idea: give each household $70,000 in cash and that will cover their lot rent – regardless of amount – for the next 15 years (if you include interest at 4% in a CD). What a bunch of idiots!