After reading this article (“Inlet Woods sale put on hold,” April 9), I did some math on property taxes on 26 homes the first year the income from tax using $15,000 a year and there will be $39,000 added to the selling price the city would receive $317,000, plus $39,000 with a total selling land value to $356,000. I know that the borough receives the taxes from real estate, but a percentage goes to the cities in kind for roads and community projects.
This sale will increase city and borough income by creating jobs. The city would like to have a new appraisal the cost of which would be added to the present value of the property. The plus side of selling the property now is new homes this year and next, sending a message to the community that this is a progressive city and borough. The future of the young starter families is finding affordable homes and new homes fill that gap by making older homes available to them, where before they had to move from the peninsula to find homes for their families.
It has been six years since the last appraisal and no one has come forward with the investment capital to build 26 new homes except Hall Builders. Let’s get started. The future is in front of us not behind us. Hall Builders just might find a better place to build homes outside of Kenai, or drop his offer because of streets, sewers and water required by the city. The vision of the Kenai is today, not in some distant future.
Raymond P. VinZant Sr.
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