Proponents say residents could benefit immediately by taking out home-equity loans based on a higher potential market value of their apartments. Residents would also reap profits when selling, advocates say. I always said this would happen. I would sell tomorrow. But her benchmate, Rose Greenberg, disagreed.
Money can be evil.
I don't trust it. The publisher of City News, Christopher Hagedorn, who lives in Connecticut, called the conversion idea compelling. For people living here today, it will be a windfall. But critics call the proposal fiscally dubious. It would end the project's tax breaks, they say, and squeeze out limited-income people.