Chief Planner Leelee Thomas explains that Bridge Housing is in line for a $2.2 million dollars gift. She explains at appx. 03;56 that they will qualify for $25,000 for each of their 82 units at Marinwood Village.
Ah, the life of a "non-profit" developer! They win so much taxpayer money from our "generous" supervisors, State, Federal and foundation grants- not to mention they don't have to pay property taxes for 55 years and pay a pittance for all other services like schools, infrastructure, police and fire.
You may think that affordable housing is for the "working poor". It's not. It is for the "corporate welfare queens" who squeeze the system for every taxpayer giveaway they can get. They also typically scoop 60% of the rent as management fees. The "working poor" are merely bit players in this complex corporate welfare scheme.
[Editor's Note]I am republishing this posting from 2013. Although Bridge Housing has stepped away from Marinwood Plaza, other developers are lining up to take part in the scheme to redevelop. The county has also promised to give away part of Marinwood Avenue for parking (illegal transfer of wealth from the county to a private party) and the toxic waste hot spot is far worse than ever imagined creating huge legal liabilities for any potential developers. A cancer hotspot in Casa Marinwood and the toxic waste has spread ACROSS the freeway . Any developer taking on the project absorbs a huge risk. But if the money is FREE from the taxpayers....