In a recent government meeting, officials discussed the Patterson Point project, which is located in the unincorporated area of Eastern Gallia. The project is currently under consideration for a TEFRA (Tax Equity and Fiscal Responsibility Act) hearing, with Frank Thompson representing the Housing Authority present to address any inquiries.
The Debt Advisory Committee had previously reviewed the project and recommended proceeding with the TEFRA hearing. It was emphasized that the county holds no legal or moral obligation for the repayment of the debt associated with the project, which will be the responsibility of the Patterson Point Limited Partnership.
During the meeting, Supervisor Nelson raised concerns regarding the project's budget, which has escalated from approximately $12 million to $23.7 million since the last hearing. He expressed apprehension about the financial implications of the project, particularly criticizing the cost of $1 million per studio apartment as excessive and potentially burdensome to taxpayers. Nelson acknowledged the necessity for affordable housing but questioned the fiscal soundness of such expenditures, suggesting that the current bidding environment may be taking advantage of available government funds.
The discussion highlighted the complexities surrounding TEFRA hearings, which are intended to assess the financial viability of using public funds for projects rather than evaluating the projects themselves. Nelson's remarks reflect a growing concern among officials about the rising costs of housing developments and the impact on taxpayers, underscoring the need for careful scrutiny of public spending in housing initiatives.