The authority declined to even discuss the stipulations in their formal response to the BET.
“Some of the conditions we won’t even entertain,” said Yankowich, citing the need to keep the Housing Authority fundamentally independent from town government and control.
Fundamentally independent, to Yankowich and friends, apparently means we have to loan them money and they don’t have to pay it back.
And there’s this to consider: It was a loan repayable over thirty years but …
The initial improvements the loan financed are now over 16 years old and will be in need of repairs themselves in the near future, housing officials say.
So we’re borrowing on 30 years to purchase things that will wear out in 15. They’ll be back.