Word: real
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Dates: during 1980-1989
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However, the high turnout may also favor theindependents. With 1-2-3 on the ballot this fall,small property owners and other real estateinterests have staged a highly vocal campaignwhich may result in broad support from across thecity...
Section 3. Two-thirds of all the additional real estate tax revenues which may be derived from increased property values and increased tax valuations (resulting from removal from Rent Control restrictions under the foregoing Sections) shall be allocated by the City for (a) rent subsidies for tenants in existing rental housing, and (b) the production of new rental housing. The benefits allocated under this Section shall be distributed to applicants based upon demonstrated financial need, with preference given to long-time-resident, elderly or homeless citizens of the city of Cambridge, of low or moderate income...
Even worse, some residents say, 1-2-3 will allow real estate investors to wield greater financial influence, forcing low-income earners out of the apartments so they can woo wealthy potential buyers...
...greedy real estate people will make us offers and get us to sell," VanIngen says. "If you're a poor family and someone offers you $3000 to move that sounds great. But you have to have somewhere to move...
Tenants like him have joined the ranks of Cambridge's real estate investors and small property owners, citing similar arguments in their defense...