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There are roughly 6,500 homeless and disadvantaged families on the Maine State Housing Authority (MSHA) waiting list to receive low-income apartments. It is wasteful to ask taxpayers to spend the budgeted $314,000 for each of the thirty-five 1,100-square-foot apartments in the planned Elm Terrace project in Portland, financed by MSHA. Lowering the cost to build "affordable" apartments to common sense levels will help more of the 6,500 disadvantaged families find safe, warm homes in which to live.
Click below to listen to Peter Anastos, the new MSHA board chair, explain how a lack of cost control caused a series of expensive "affordable" apartment projects across the state constructed with taxpayer dollars. The now stalled $314,000 Elm Terrace apartments are the most recent examples of low-income housing financed by MSHA.
The two part, 15-minute audio was recorded on Tuesday, November 29 on the George Hale & Ric Tyler Radio Show, WVOM FM 103.9 Bangor and 101.3 Augusta.
Bruce L. Poliquin
For related information and media, visit www.maine.gov/treasurer/outreach.