Stimulus Efficiency: Spending More To Do Less
In Ashland, KY, the Ashland Housing Authority is spending over $1 million to improve a couple of buildings it owns.
The capital grant will also go toward the cost of renovating and converting 10 units into five larger, ADA compliant units, according to Young.
Many of the renovations mentioned in the article -- like asbestos removal -- make sense. But the end result is five fewer affordable housing apartments to offer.
So the end result of spending over $600,000 in stimulus and over $400,000 in other federal transfer payments is that there will be five fewer opportunities for affordable housing.
How much more will it cost taxpayers to build five new ones when advocates start saying that 'there is a greater need for affordable housing and less opportunity'? It's a vicious cycle of spending.
