Google Invests In Homes For Poor People, Gets Massive Tax Cuts In Return
Google's investment in the low-income housing market is worth at least $86 million. The company also invested $25 million in a separate deal earlier this year, according to Bloomberg.
This isn't a short term investment for Google, as the tax credits make take some 10 years to sort out. But it may be worth it for yields that could be around 10%.
Editor's Note: Marinwood Village and the huge amount of the low income housing in Marin will be driven by the LIHTC scheme to provide corporate investors and Wall Street financial firms to make huge returns on investment backed by the government. The COST of these investments is shouldered by the host community like Marinwood-Lucas Valley who must pay for all of the infrastructure improvements, government services, schools, police and fire while receiving almost NO TAXES. It is a scheme worthy of late night "No Money Down" real estate gurus. Investors get guaranteed profits while we pay the bill.
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