Not even an almost $4 million match from HUD could convince private bankers to invest in High Point’s core neighborhoods.
The HUD money’s not going anywhere —at least not until 2015 —- so staff and the City Council must find other projects to fund. First up —a $1.35 million loan for the 58-unit Addington Ridge apartments. In the meantime High Point must find other ways to encourage the private sector to invest in the city’s rundown neighborhoods. Quite a challenge. In the meantime note the memo from Director of Community Development and Housing Mike McNair:
“High Point has a great unmet need for safe, sanitary and decent affordable housing for its low to moderate-income residents,” McNair wrote in his memo to McCaslin. “This development will continue the City’s commitment to help address this need.”
McNair said High Point has 2,283 families on its waiting list for housing assistance.
Here’s the question — after 50 years of HUD’s existence with who knows how many billions of taxpayer dollars, why are there still more than 2,000 families in need of “safe, decent and affordable housing” in the City of High Point in the year 2013?
