"Affordable Housing" is a term used by the current City Council and a past administration. Most in LO wonder what that translates to in terms of high property values in Lake Oswego. Well we are beginning to get some insight into what that will do to local property values and mix.
While affordable senior subsidized housing opens up in Lake Oswego this week recent testimony by a former HUD executive told us more during the Foothills comment period. It seems that the proposed development is required to have Section 8 low income housing as a percentage of it's properties.
Imagine that Low income housing in Lake Oswego and its impact on local property values!
It seems residents aren't being told all the requirements of developing the area and its potential impact on property value. That's similar to the recent approval of an ICE detention facility in the south waterfront area along with an additional requirement for low income housing. We leave it to residents to determine if they prefer low income subsidized housing be developed with their tax dollars.
Its an interesting question and the "dirty secret" that isn't being discussed in the public debate.
A recent article in the Oregonian begins to describe the requirements but only places its focus on senior housing: Second Affordable Senior Complex
Details of the City "affordable Housing" plan and efforts can be found at the following : LO Planning Affordable Housing. This effort was approved when current Mayor Jack Hoffman was on the City Council. Only time will tell what this effort will do to Lake Oswego. We leave it to voters to make their own determination of the program's merits.
Please notify all members, contacts and friends.
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