These amounts are affordable and within reach of median income families, and lower income families. There will be no contribution required from the City s general fund. Over time, the incremental tax revenues can be incorporated into the general fund, as they will keep increasing at a faster rate than required for supplemental rental subsidies. Some people have chosen to draw an artificial and misleading distinction between rental housing and ownership housing. This is a trap and a fallacy.
Housing is housing.
Single family houses and condominiums are routinely rented to tenants. As we can see, units are effectively interchangeable between rental occupancy and owner-occupancy.