The Daily Pilot's front-page story (Re. "Council approves tax-free bond to renovate Bethel Towers," July 7) about the $37-million tax-free bond raises many questions.
It stated that, thanks to this deal approved by the City Council, Costa Mesa's low-income seniors would be guaranteed affordable housing at Bethel Towers for 55 years. What it didn't point out is that the project's promise to keep only 20% of the 269 units affordable results in a loss of 215 affordable units!
What was the council thinking? Didn't they question how the units could remain affordable if, as stated in the article, the present monthly income of $80,000 would rise to $250,000? That's an increase of more than 300%, which could only be achieved by raising rents accordingly.