Quote:
Originally Posted by Chi-Sky21
I am not saying huge fees. But the developer is getting to make more money from having to devote less space to parking. I see no issue if the city gets a little of that profit back to benefit the very infrastructure that makes the developers location even more desirable. And i am not some guy that wants to tax a ton, but the city needs more somewhat reliable sources of money for infrastructure. But you would also need it written this money could be used for nothing else. Good luck with that. The ideal money source for this would have been the parking meters but we pissed that away.
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Why does everyone assume that profits are a thing for the government to pilfer? Hint: the government didn't do shit to "increase the profits", what they are doing is eliminating stupid and arbitrary regulations (i.e. restrictive zoning and parking mininums") and allowing the value of the land to revert back to what it would have been worth had the government not been moronic enough to restrict growth in the first place.
Developers already pay a share of their profits for public infrastructure and services, it's called taxes. We pay when we buy a property, we pay when we sell, we pay when we make income, we pay annually via property taxes, we pay fees for water, we pay fees for garbage, we pay fines constantly for each and every tiny little infraction like an overflowing trash can where some asshole came and dumped a car load of garbage behind our building, we pay $5k in fees for the privilege of spending another $10k to rip out an old lead water line, we pay if we Airbnb, we pay if we change zoning, we pay $125 for the city to give us a freaking piece of paper saying how many units a property has which is usually totally wrong anyhow....
What don't developers pay for in this city? You wonder why there's no affordable housing and whole neighborhoods are rotting at the same time? It's because the city has made doing business here so painful that there is no margin in providing affordable or mid tier housing anymore. But yeah, I'm sure more fines taxes and fees will help with that...