In March, Brandon Johnson, the mayor of Chicago, tweeted that Chicago had “invested $11 billion” to “build 10,000 more units of affordable housing.” That nets out to $1.1 million per unit. If you dig into the process for selecting affordable housing projects, you’ll find there’s a rubric that awards each project up to 100 points for fulfilling different goals. A project gets 10 points for “advanced level” green-building certification; it gets 11 points for “BIPOC development control” or a woman-led development team; it gets seven points for fulfilling certain accessibility requirements; “cost containment” is worth three. Policy failure breeds political failure.
In other words, straight white (un-connected) males need not apply…
Fullbladder
11 months ago
Johnson, like all Communists, is economically illiterate. Blank-check governance is how they feel accomplishment, regardless of the cause and effect destruction. I’ve told the story here before. Johnson speaking to Rainbow Push at their Saturday morning gathering, told the crowd that the hospitality industry tradition of tipping for meal service is a “vestige of slavery”. Johnsons NEVER earned a dime in his life that was based on his performance.
Old Spartan
11 months ago
The Affordable Housing Tax Credit was a good idea– conceptually. Started in the early 1990’s to replace the Section 8 and HUD 236 programs. Then fast forward to the last twenty or thirty years– in Chicago, to get the credit, which was worthwhile economically as a developer, you had to hire: a consultant to tell you how to do the credits; a minority development partner; a monitor to make sure all your contractors and subs had enough real minority participation; a credit marketer to sell the credits for you; a connected City Hall attorney who could get the low income… Read more »
More navel gazing pontificating by progressive left elites who don’t believe the world of supplying goods and services in a competitive economy (capitalism) is good enough for them. But instead want you to pay for their upper-income symbolic economy gigs in gov, universities, ngo’s, etc to sit around and tell you how to live your life….and they wounder why nobody loves them? At a minimum these folks are easily dismissed as goofs but in a Chicago teamed with machine self-serve EQUITY HUSTLE you can bet somebody maken $$$BIG$$$ bucks on Brando’s $800gs a unit affordable housing on the taxpayers dime,… Read more »
I get a kick out of hearing some on the left talking about their new “Abundance Economy” thing. Sure sounds like supply side economics to me, which is how many on the right have long labeled their agenda.
taxpayer
11 months ago
It’s a long article, and Wirepoints has extracted the part most relevant to Chicago, but I think the most important point for those on the left is “To overhaul the government so it can deliver what it promises would require Democrats to confront not just their enemies but also their friends.”
taxpayer
11 months ago
Wirepoints’ link points to a regwall, but it appears the same article is openly available here.
Brian Jones
11 months ago
$1.1 million per unit – and he is bragging? Clue meter is reading zero.
Third grade IQ mayor Homie probably feels that the more one spends on each unit, the better it is. It certainly works out well for those involved in the DEI hustle.
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
In other words, straight white (un-connected) males need not apply…
Johnson, like all Communists, is economically illiterate. Blank-check governance is how they feel accomplishment, regardless of the cause and effect destruction. I’ve told the story here before. Johnson speaking to Rainbow Push at their Saturday morning gathering, told the crowd that the hospitality industry tradition of tipping for meal service is a “vestige of slavery”. Johnsons NEVER earned a dime in his life that was based on his performance.
The Affordable Housing Tax Credit was a good idea– conceptually. Started in the early 1990’s to replace the Section 8 and HUD 236 programs. Then fast forward to the last twenty or thirty years– in Chicago, to get the credit, which was worthwhile economically as a developer, you had to hire: a consultant to tell you how to do the credits; a minority development partner; a monitor to make sure all your contractors and subs had enough real minority participation; a credit marketer to sell the credits for you; a connected City Hall attorney who could get the low income… Read more »
“heartbreaking and gut wrenching”?
Nice analysis Sparty.
More navel gazing pontificating by progressive left elites who don’t believe the world of supplying goods and services in a competitive economy (capitalism) is good enough for them. But instead want you to pay for their upper-income symbolic economy gigs in gov, universities, ngo’s, etc to sit around and tell you how to live your life….and they wounder why nobody loves them? At a minimum these folks are easily dismissed as goofs but in a Chicago teamed with machine self-serve EQUITY HUSTLE you can bet somebody maken $$$BIG$$$ bucks on Brando’s $800gs a unit affordable housing on the taxpayers dime,… Read more »
I get a kick out of hearing some on the left talking about their new “Abundance Economy” thing. Sure sounds like supply side economics to me, which is how many on the right have long labeled their agenda.
It’s a long article, and Wirepoints has extracted the part most relevant to Chicago, but I think the most important point for those on the left is “To overhaul the government so it can deliver what it promises would require Democrats to confront not just their enemies but also their friends.”
Wirepoints’ link points to a regwall, but it appears the same article is openly available here.
$1.1 million per unit – and he is bragging? Clue meter is reading zero.
Third grade IQ mayor Homie probably feels that the more one spends on each unit, the better it is. It certainly works out well for those involved in the DEI hustle.