652 replies to this topic

[Victoria Watcher]

All these homeless > homes residences have ongoing operating fees though. If we keep building more the tax needs will increase.

Like this one that isn’t even specifically for homeless:


The Province, through BC Housing, provided $6.1 million through the Building BC: Indigenous Housing Fund (IHF) for the project and is providing annual operating funding of approximately $536,000.

https://news.gov.bc....HOUS0159-001806




Free land and free building and the damn thing STILL needs an operating grant of $19,000 per unit - EVERY YEAR.

What kind of freaked out math could make a project so terrible?

Edited by Victoria Watcher, 11 February 2024 - 08:33 AM.

[Mike K.]

We are now in a situation where homeowners are working to reduce insurance coverage plans and putting themselves in disadvantaged positions, in order to afford the rapidly rising property taxes.

Taxes will have risen $500 over two years in Langford, for example. Insurance is rising just as fast, if not faster. Something has to give here.

[Victoria Watcher]

If I had free land and a free building with 28 units, how much rent would I need just to keep up the maintenance and common utilities etc.?

Because even after that one collects all the rents it is short almost $1600 per unit each month.

If government ran lots of buildings like this and we let them build lots more we would be in real trouble

Edited by Victoria Watcher, 11 February 2024 - 08:38 AM.

[Tony]

There is no description on how the annual operating funding of approximately $536,000 will be used.

Might be interesting to know.

[Victoria Watcher]

I’ll guess for one it has 24 hour staffing. Which is insane for a 28 unit apartment. But here we are.

[Victoria Watcher]

I have a friend that works for one of the big housing providers. They prefer to work the overnight shift. I’m not saying this is all that person does each shift but in talking with them it seems a major goal most nights is figuring out how they can get the most sleep in the office. So they are paid in the high $20’s per hour to mostly sleep.

[G-Man]

Fund it federally then. The portion of any one person's tax bill that goes into paying for another person's housing is negligible versus the amount we give corporations. Solve the big stuff before griping about the small stuff.

[Mike K.]

Forgive the rant, but I think we may need to add some background to this.

 

We fund government initiatives via taxes to spur job growth and invest in employment opportunities. Every dollar is tethered to some form of employment, somewhere, aside from debt repayments and money sent offshore.

 

It is largely the same with corporations. Taxpayers investment in them, or give them tax breaks, for them to create jobs, and invest back into the communities where they operate, or expand their international operations, in order for them to create wealth, and create the wealth necessary to support government budgets.

 

Unlike governments, private corps need profit, to put away, to then re-invest. Governments can tap into tax dollars indefinitely, but corporations invest what capital they have left over, so they can leverage their profits, savings and profit potential.

 

So we need to invest in corporations, because government cannot do it all, and is not able to if it were asked to, as that's how the nation ultimately creates wealth.

[Nparker]

...Governments can tap into tax dollars indefinitely...

Ain't that the sad truth.

[HarrisonGreene]

For so much time Council twiddled their thumbs and as a result we are left with a hideously ugly design that overpowers and mocks the tiny heritage buildings. The older proposal was so much better.

[Nparker]

If it makes you feel any better, it doesn't appear as though anyone alive today will still be around when this project finally gets underway.

[max.bravo]

Forgive the rant, but I think we may need to add some background to this.

We fund government initiatives via taxes to spur job growth and invest in employment opportunities. Every dollar is tethered to some form of employment, somewhere, aside from debt repayments and money sent offshore.

It is largely the same with corporations. Taxpayers investment in them, or give them tax breaks, for them to create jobs, and invest back into the communities where they operate, or expand their international operations, in order for them to create wealth, and create the wealth necessary to support government budgets.

Unlike governments, private corps need profit, to put away, to then re-invest. Governments can tap into tax dollars indefinitely, but corporations invest what capital they have left over, so they can leverage their profits, savings and profit potential.

So we need to invest in corporations, because government cannot do it all, and is not able to if it were asked to, as that's how the nation ultimately creates wealth.

It seems there are fewer and fewer people nowadays who understand that slicing the pie into more pieces isn’t the same as making the pie bigger.

[G-Man]

I would never have thought that VV held supporters of the Fast Ferries or the long standing investments in Bombardier.