To The Daily Sun,
The scare tactics at Briarcrest Estates continue. Supporters of the coop continue to promote the idea that HTA is going to raise our rents to $750 per month or more. If they had bothered to read the proposal send to the board they would know that all increases in the future, for existing residents, will be increased at the same rate as the Moodys used — the Boston area consumer price index. So, if you are going to make statements, get your facts straight.
If you want to worry about increases, think about this. If a major problem arises under they coop, they will turn to ROC for funds to fix it. ROC will be more than happy to lend you money at 7 or 8 percent, as they have done before. Do you really think we can ever get out of debt this way?
Of course, the other alternative would be to wait and do nothing as the problem gets worse. Or you can try and fix it until your funds run out. Then you go to ROC for money, at their rate of interest. This leaves the prospect of having streets that are impassable or unsafe. The money, either way, will have to come from coop membership, at a high interest rate.
Just the fact that we owe more now than we did on the day the coop took possession of Briarcrest does not leave me with a warm, fuzzy feeling. Leaving these decisions to a bunch of inept and reluctant volunteers does not seem like a smart move.
- Category: Letters
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