Governor's Proposal - Are they Enough Safeguards?
Governor Guinn's innovative proposal to acquire
parcels of federal land throughout Nevada and inviting
private developers to build homes and condominiums on
the acreage, which would be kept in a state trust.
Individuals purchasing the homes would pay only the
cost of the housing unit, and not of the land. This
proposal has been widely welcomed by the residents and
the housing industry, which find that owning a home
may no longer be possible for large sections of the
society. But this proposal has received a lukewarm
reception from legislators when the governor announced
the affordable housing proposal during his during his
Jan. 24 State of the State address.
The Senate Minority Leader Dina Titus, D-Las Vegas,
and Assembly Minority Leader Lynn Hettrick,
R-Gardnerville, want more details about the proposal
before committing their support.
The following are the concerns that Senators have:
1. The state may be taken for a ride by some
homebuyers who may quickly these homes at market value
and earning a windfall profit. They feel there should
be some restrictions and safeguards to prevent this
from happening.
One solution might be to require people selling the
homes to return to the state the share of the sales
price that represents the land's value, he said. This
money could be used to acquire additional land or
cover administrative costs.
2. Would the homeowners pay property taxes on the
land's value if the property is owned by a state
trust? If not, how will the state earn revenue from
these projects for putting up roads and
infrastructure.
3. The program could never become very big, as there
is little federal land available.
It is noble cause and it may do some good, but it is
not going to solve the problem of affordable housing
feel the majority of the people.
0 Comments:
Post a Comment
<< Las Vegas Homes News