Re: Proposed sale angers Pasco officials, March 26.
>-- Editor: We at American Opportunity for Housing Inc. are proud and happy to be working in Pasco County. Founded in 1992, AOH is an established nonprofit organization that currently operates more than 7,000 units of affordable housing throughout the southeastern United States. We have built a solid reputation over the years for honesty and public purpose in our dealings with state and local housing agencies, nationally recognized credit rating agencies, investors and, most important, our tenants. As stated at the hearing and in the article, neither I nor any employees or directors of AOH receive compensation from our housing activities.
The Pasco County commissioners should not be surprised by this project. We have made no secret of the project and have complied with all local, state and federal requirements related to it. On Jan. 22, as required by federal law, we held a public hearing in Pasco County - at the Rivermill Apartments - regarding this transaction. That hearing was advertised in the St. Petersburg Times and was attended by several residents of the affected apartments as well as by George Romagnoli, Pasco County's community development manager, who is quoted in your article. Mr. Romagnoli actively participated in the hearing, asking several questions.
I believe we satisfied the concerns that were expressed by everyone who attended. If Mr. Romagnoli or the county had other issues, they did not make them known to AOH or to the Capital Trust Agency either at that hearing or in the two months since it took place. However, should anyone have additional concerns, we would be happy to address them now or in the future.
With respect to the tax issue, it is a matter of state law that a nonprofit is entitled to a tax exemption on rental housing based upon the percentage of units set aside for low- and moderate-income tenants. This tax exemption is applicable regardless of how the project is financed. AOH is merely making use of this state law in order to increase the much needed stock of affordable housing in Pasco County. It is important to add that the current tenant profile of these projects already meets the set-aside requirements. So there will be no displacement of tenants. On the contrary, AOH's acquisition will help ensure that the properties remain affordable for their current tenants.
The acquisition of the property by AOH will actually increase the oversight and control of those housing units. The county and/or city will retain all of the rights it currently has over the properties through its zoning and inspection authority. In addition, as required by federal law, AOH will enter into a regulatory agreement requiring AOH, among other things, to maintain the affordability of the units over the life of the bonds.
We at AOH are very proud of the work we have done in affordable housing throughout the Gulf Coast region, and we look forward to providing the same benefits to residents of Pasco County. We stand by our record and our reputation, and are eager to clear up any misperceptions which may exist about us or our projects.
-- David Starr, president, American Opportunity for Housing Inc.
Penny for Pasco will hurt residents on fixed incomes
Editor: Regarding the Penny for Pasco campaign and the supposed reduction of the property taxes, I am somewhat skeptical of this proposal. For those individuals who have a home valued at $75,000 with the $25,000 homestead exemption, it is quite clear that they can afford a rather comfortable lifestyle. However, what would be the consequences of an additional penny sales tax for those who are on a fixed income and must rely on lower taxes for their food and gasoline?
Should those individuals who have to accept a decrease in their disposable income be assessed an added burden to their every day living vs. those who have a more affluent lifestyle? It is my belief that an increase in assessment of costs for those who are purchasing a new home would better serve the people of Pasco County. Obviously, if an individual can purchase a new home, more likely than not, they can afford an increase in their purchase price of their homes. I would hope that the people of this county can see the ramifications of this increased tax on their own disposable income.
I believe that those individuals who reside and vote in Pasco County will see that this increase in as a rather superfluous attempt to disguise this as a true tax increase. The voters of this county will, in the end, show that they indeed can discern the intent of such a maligned effort.
-- Timothy D. Delehanty, Port Richey
Share your views
The Pasco Times welcomes letters from readers for publication.
Because of space limitations, letters should be of reasonable length (250-300 words maximum as a rule).
Letters may be edited for clarity, taste and length.
All letters must be signed and must contain the writer's address and telephone number. Addresses and telephone numbers will not be printed. Anonymous letters or letters with initials only will not be printed.
Send your letter to Pasco Times, 11321 U.S. 19, Port Richey, FL 34668.
[Last modified April 16, 2003, 14:20:32]
Pasco Times headlines
[an error occurred while processing this directive]
