Word: lowcost
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Dates: during 1980-1989
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...people most at risk from this bill would be people participating in the Section 8 and 707 subsidy programs. Because landlords benefit from extra government rent payments (and the Housing Authority only subsidizes lowcost apartments) about 80 percent of those subsidized tenants now live in rent-controlled apartments. With a law like 1-2-3, any of these tenants seeking rent-controlled apartments would be left out in the cold. Extra rent payments cannot compete with condo profits...