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Struggling tenants find unlikely savior: luxury housing

Original post made on Jun 8, 2019

Politics does indeed make strange bedfellows, and Tuesday night's City Council meeting was a classic example.

Read the full story here Web Link posted Friday, June 7, 2019, 1:18 PM

Comments (4)

133 people like this
Posted by Hmmm. . .
a resident of Bailey Park
on Jun 8, 2019 at 8:41 am

Why does this article characterize Job Lopez as a "community activist" when he is best known (outside of his own circle) as the indentified vandal-by-night of campaign signs for a candidate he didn't like Web Link which was widely condemned, including by past supporters such as Lenny Siegel. That notorious behavior (in between writing indignant letters to the Voice Web Link ) showed his principles more fully. The same willingness to bypass law and civility in the service of a cause he favored (a.k.a. "I know best") is a behavior familiar to students of modern history and the rise of 20th-century dictatorships eager to have their own ruthless way with anyone they didn't like, once they gained political power -- the same underlying attitude writ large.

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Posted by @Bailey Park
a resident of Another Mountain View Neighborhood
on Jun 8, 2019 at 2:18 pm

[Post removed due to disrespectful comment or offensive language]

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Posted by The Business Man
a resident of Another Mountain View Neighborhood
on Jun 8, 2019 at 5:30 pm

The Business Man is a registered user.

Just understand.

This Prometheus group was the same group that funded the fight against CSFRA.

Promethuesu is getting SUBSIDIZED by the public to provide the affordable housing.

Public money being used to increase private profit.

This is insane, the City council is saying it will pay money to them forever from the City taxpayers.

$10.8 million dollars in replacement is nothing because of the units are charged $3000 a month time 226 per year will collect $8.13 Million a year. Thus if that is expected to be able to achieve 20% profit then the cost of the operation can be claimed to be $6.5 Million a year. Leaving a yearly profit of $1.6 Million. Thus it might take 6.5 years longer to break even on that payment. But that will be a loan for as long as 20 years will cost $860,000 a year. Even with this, they will receive a 10% profit for 20 years. The Mortgage will be paid in 30 years, thus it will be safe to say the operational expense will drop by 50% during that time which will result in a profit of $4,380,000. After the mortgage is paid.

Simply put, that is nothing regarding the lifetime earning which will last at minimum 50 years which will come to ($.74 M*20) + ($1.6 M *10) + ($4.38 M * 20)= $ 118.4 M.

That comes to an average profit of $2.36 Million

What a joke?

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Posted by The Business Man
a resident of Another Mountain View Neighborhood
on Jun 10, 2019 at 5:03 pm

The Business Man is a registered user.

Prometheus is acting like an extortionist, extortion because it is defined as:

Extortion (also called shakedown, outwrestling and exaction) is a criminal offense of obtaining money, property, or services from an individual or institution, through coercion. Extortion is commonly practiced by organized crime groups. The actual obtainment of money or property is not required to commit the offense, and making a threat of violence which refers to a requirement of a payment of money or property to halt future violence is sufficient to commit the offense.

The term extortion is often used metaphorically to refer to usury or to price-gouging, though neither is legally considered extortion. It is also often used loosely to refer to everyday situations where one person feels indebted against their will, to another, in order to receive an essential service or avoid legal consequences. Neither extortion nor blackmail requires a threat of a criminal act, such as violence, merely a threat used to elicit actions, money, or property from the object of the extortion. Such threats include the filing of reports (true or not) of criminal behavior to the police, revelation of damaging facts (such as pictures of the object of the extortion in a compromising position), etc.[citation needed]

In law, the word extortion can refer to political corruption, such as selling one's office or influence peddling, but in general vocabulary the word usually first brings to mind blackmail or protection rackets. The logical connection between the corruption sense of the word and the other senses is that to demand bribes in one's official capacity is blackmail or racketeering in essence (that is, "you need access to this resource, the government restricts access to it through my office, and I will charge you unfairly and unlawfully for such access").”

Demanding the subsidies for providing housing to 33 units from the city is very similar if not actual extortion.

At the same time Prometheus and the City of Mountain View is commiting acts very similar if not acting out Bribery because it is defined as:

Bribery is the act of giving or receiving something of value in exchange for some kind of influence or action in return, that the recipient would otherwise not offer. Bribery is defined by Black's Law Dictionary as the offering, giving, receiving, or soliciting of any item of value to influence the actions of an official or other person in charge of a public or legal duty.[1] Essentially, bribery is offering to do something for someone for the expressed purpose of receiving something in exchange.[2] Gifts of money or other items of value which are otherwise available to everyone on an equivalent basis, and not for dishonest purposes, is not bribery. Offering a discount or a refund to all purchasers is a legal rebate and is not bribery. For example, it is legal for an employee of a Public Utilities Commission involved in electric rate regulation to accept a rebate on electric service that reduces their cost for electricity, when the rebate is available to other residential electric customers. Giving the rebate to influence them to look favorably on the electric utility's rate increase applications, however, would be considered bribery.

A bribe is the gift bestowed to influence the recipient's conduct. It may be money, goods, rights in action, property, preferment, privilege, emolument, objects of value, advantage, or merely a promise to induce or influence the action, vote, or influence of a person in an official or public capacity.[3].

If the City receives the $10.8 Million it looks very similar to a bribe. The city has been receiving these payment in lieu of providing affordable housing as defined under state laws as of 2019. The fact is the city is making money out of these payments. The City should be informed.

Sorry, but further commenting on this topic has been closed.

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