A couple years ago the City Council requested this report on 9 different “affordable” projects around the City of Worcester, click here for the report. The key line to look at on page 3 are the lines that say:
- TDC (Total Development Cost) per unit
- Public funding per affordable unit
The numbers are staggering!!!
Although we do not know every since contractor that was hired to work on these 9 projects that totaled over $70,000,000, we know the presence of local contractors (Worcester based) was minimal at best. Makes us wonder why the potential buyer of the courthouse who plans on developing market rate housing is being asked to be held to different standard then “affordable” projects that largely funded with public monies?