Word: public
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Dates: during 1960-1969
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...room for profit. What the real estate industry can do is to build housing units, because developers and contractors have done it over and over again, and have expertise at it. The industry also has access to private mortgage money, which is required because there simply is not enough public money to support an adequate rate of construction. To be able to tap that expertise and those financial resources, we must pay the costs--in the form of fees, profits, or tax incentives to private builders. There are Federal and State programs to do that, and they involve the cooperation...
Meeting that challenge will take more creativity and boldness than we have used. We should create opportunities for home ownership for low-income families, who can build up equity in apartments they occupy as purchasers rather than as tenants. We must shape the physical design and administrative procedures of public housing to make that possible. We should shift our thinking about management responsibilities to provide for cooperative management or even ownership of publicly-subsidized housing by tenants. We should be wiling to test new methods of producing techniques, scattered-site development, the "turnkey" method of housing built more quickly...
...totally successful in revitalizing our public housing program, only part of the job will be done. The two universities which have done so much to make Cambridge what it is--both good and bad--have a special responsibility. It is futile to argue much longer about how much or which parts of the pressures on the housing market are generated by students, faculty, staff and spin-off activities traceable to Harvard and MIT. The point is not whether the response of the universities will be proportional to the degree to which they are responsible for the problem. The question...
...housing which will rent at full market levels must understand, while the City recognizes their right to produce middle-income or luxury housing and understands the desire of families with adequate incomes to live in Cambridge, that such housing must clearly have the lowest priority in terms of public funds, energy or involvement. This is not because one group of residents is less important than the other. It is simply because they need less help, and have a better chance of having their needs met in the market. All builders or owners of private housing, at whatever rent levels, must...
...demand is unusually high. But let's be precise about that. More luxury housing will not relieve the pressure on the low income housing market in Cambridge. The "Filter down" theory simply does not work here. More construction of subsidized low income housing will help and that is a public responsibility on which my staff is presently hard at work...