Brand new 19-story residential tower opens in LA, $600,000 per unit

In Los Angeles a brand new 19-story residential building is slated to open this month.  It will have luxury amenities including a gym, an art room, a soundproof music room, a computer room and library and six large balconies offering sweeping views of downtown and the San Gabriel Mountains.

The building's 278 units cost about $600,000 each, and demand is expected to be huge.

That's because all the units will be used to house homeless people.  And of course each unit will come with a television, cuz when politicians are forcing taxpayers to pay $600,000 per unit, what's a measly $500, eh?

And of course that's just the beginning: "Advocates" for the homeless plan to build two more towers just like this one.  And all done by a "non-profit."

The first building is said to have cost approximately $165 million and will receive financing from a local ballot measure said to have been approved by voters (Proposition HHH), plus state money...and $56 million in state tax credits.

Wait...how does a non-profit use "tax credits," eh?  The "non-profit" doesn't have any income, and so-called non-profits--like Black Lives Matter--don't pay taxes anyway (even after taking in $100 million in donations).  So what's up with tax credits?

Ahh, of course: the non-profit will sell the tax credits at a discount from face value, so that a business that owed a million bucks in state tax would buy a million dollars of tax credits for, say, $800,000, saving a cool $200,000.

Say, since that sale will be handled privately, by the directors of the "non-profit," and there's no market figures for comparison, you don't suppose there could be a metric ton of kickback there, do ya?

Good luck finding out the details of that deal, eh?

Finally, what do ya suppose the annual operating cost for this monster will be, eh?  Salary for the CEO of this "non-profit" will likely be over $250,000 a year.  We'll see.  

Actually we won't.  Using tax dollars to house the mentally ill and drugged out in 19-story palaces at $600,000 per unit--plus annual op costs of ten million or so--will be a never-ending job.

You knew the fix was in when the plans called for a gym, an art room, a soundproof music room, a computer room and library, eh?

Exit question: Do you think providing this level of luxury for the homeless will attract more homeless to Los Angeles, or no effect? 

Source

https://www.foxnews.com/media/massive-california-residential-tower-homeless-private-rooms-gym-cafe-amenities