Quote:
Originally Posted by cdnguys
Not sure why it would be viewed as bad. This is a new program. Given the choice and being eligible for an 8% loan or a 5% loan, which one would you take? All developers will be accessing this program It’s not a reflection on the financial health of a developer.
|
Just raising a topic of discussion. You are right on the loan, it's hard to argue with lower rates. It is also hard to quantify, in layman's terms, what providing those discount loans costs the government.
But if I am reading the announcement correctly, the provincial and municipal government are investing close to $2.5M in the project. What are they getting in return for that? I assume it's the affordable units, which work out to roughly $80,000 per unit.
Is that also a loan or is it a cash investment? How long have we secured these 'affordable' units for? Or is this related to the Large Scale Development Incentive Program?
I think it's reasonable to want to understand what our taxes are going towards and ensure it's not padding Percy's margins.
Threaded Mode